Israel to build five artillery munitions plants in Bihar

Jerusalem, Apr 6 (PTI) Israel has signed a whopping
USD 240 million agreement with India to build five artillery
munitions factories in eastern state of Bihar over a period of
three years.

The munitions factories will be built by the Israeli
Military Industry (IMI) on the line of its ordnance factory in
the Tel Aviv suburb of Ramat Hasharon, business daily 'Globes'
reported.

The Israeli defence industry said that the contract
was the result of its collaboration with Indian Government's
Ordnance Factories Board (OFB).

IMI will be the chief contractor in the deal and will
use Israeli and Indian firms as subcontractors.

The state-owned Israeli firm reported USD 660 million
in sales last year, 16 per cent more than in 2007.

The firm's CEO Avi Felder said the global economic
crisis would change the procurement pattern by the world's
leading militaries, which would switch to upgrading existing
weapons platforms on short timetables instead of massive
investment in new facilities that would take a long time to
develop and deliver. PTI HM
PMR
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