27 March 2009

New Delhi, March 27 (KMS): In its biggest defence deal with India, Israel will provide its largest arms buyer an air defence system at a whopping sum of US$ 1.4 billion.

Israel Aerospace Industries (IAI) has officially acknowledged that the defence deal between the two countries was signed on February 27 under which Israel will develop and manufacture seaborne and shore-based systems against missile attack on India, Israeli daily business 'Globes' reported.

The two sides have agreed that part of the payment for the systems will be made during the development period and the balance will be paid during the 66-month delivery period.

As per the agreement, IAI has also undertaken to procure military or aviation products and services from India. Besides, it will invest in defence companies in India up to an amount equal to 30 percent of the contract, reports the Daily.

Meanwhile, the state owned Israeli firm said that it delayed announcing the contract because the customer informed them that early disclosure was liable to cause material difficulties in its execution and may even result in cancellation, the newspaper reported.

IAI also added that it felt that this risk would be substantially reduced once the advance payment was received, the report said.

The Israeli defence industry, however, decided to go open on the contract following reports in media, even though the advance payment has not yet been received, it said. »

Kashmiris urged to be aware of intrigues of Indian agencies

Meanwhile, senior Kashmiri Hurriyet leader, Syed Ali Gilani and the All Parties Hurriyet Conference leader, Ghulam Ahmed Mir have stressed that Kashmiris should be aware of all conspiracies hatched by the Indian intelligence agencies and continue the liberation struggle to secure their right of self-determination peacefully.

The two leaders expressed these views in a meeting when Syed Ali Gilani visited Delhi’s Appolo hospital where Ghulam Ahmed Mir had been admitted for treatment for the last few weeks.

Both the leaders unanimously agreed that freedom struggle had entered into a very critical phase and there was a need to be vigilant to frustrate the conspiracies of Indian agencies and the puppet administration in the occupied territory. »