State-owned Israel Aerospace Industries (IAI) on Wednesday said it has inked a follow-up deal worth USD 50 million to supply complementary Naval MRSAM (medium range surface-to-air missile) systems to the Indian Navy and the Mazagon Dock Shipbuilders.
As per the agreement, signed this week, the IAI will provide complementary systems for the air defence system (ADS).
"The deal involves follow up order for a range of maintenance and other services for various sub-systems of IAI's advanced MRSAM ADS," the company said in a statement.
Boaz Levi, the executive vice president and general manager of Systems, Missiles & Space Group at IAI, described the deal as a major "breakthrough".
"This contract is a breakthrough as it advances us from system development and delivery to looking after the operational needs of our customers," Levi said.
"IAI's partnership and strong relationship with the Indian Navy is reflected in all activities with our partners in India. Only recently we have successfully completed a multi-system trial in India that demonstrated the advanced technological centralised management capabilities of the air defense system to the utmost satisfaction of our Indian partners," he said.