"Defense News" reports in its latest issue that India and Israel will announce tomorrow a joint venture to produce long-range precision artillery munitions at the Defexpo India 04 exhibition in New Delhi. The munitions will be manufactured in India for use by the Indian Army, and will be offered to other armies.
Under an agreement between Israel Military Industries (IMI) and its Indian counterpart, the Ordnance Factory Board (OFB), the two companies will manufacture artillery munitions in India for use by the Indian Army.
IMI and OFB plan to produce two types of munitions: cargo shell, which carries a 12-kg high-explosive charge and has a 40-km range, and an APAM (anti-personnel anti-material) cluster tank round that carries 49 bomblets for use against anti-tank squads and other ground targets.
An IMI source told "Defense News" that the agreement was expected to lead to orders worth tens of millions of dollars from India over the next five years, and possibly orders worth tens of millions of dollars more from third countries.
India bought $2.7 billion worth of arms and munitions from Israel in 2003, over 30% of total orders for Israel's defense industries.
Published by Globes [online] - www.globes.co.il - on February 3, 2004