BrahMos Aerospace Private Limited (BAPL) signed a contract with the Department of National Defence of the Republic of Philippines on Friday for supply of Shore Based Anti-Ship Missile System to Philippines, said Ministry of Defence.
Earlier this month, the Philippines accepted Indian BrahMos Aerospace Private Limited’s proposal worth $374 mn to supply Shore-Based Anti-Ship Missile systems for the Philippines Navy
The BrahMos export order is the biggest for the country in this field and is likely to propel India amongst the arms exporter countries as more orders for the missile are expected from other friendly countries too.
The BAPL is a joint venture company of the Defence Research and Development Organisation. The contract is an important step forward for Government of India’s policy of promoting responsible defence exports.
The missile is also getting more capable due to added range and other modern technologies getting incorporated into it.
India has already deployed a sizable number of the Brahmos missiles and other key assets in several strategic locations along the Line of Actual Control with China in Ladakh and Arunachal Pradesh.
The BrahMos has been developed as a joint venture between the Defence Research and Development Organisation (DRDO) of India and the Federal State Unitary Enterprise NPO Mashinostroyenia (NPOM) of Russia as BrahMos Aerospace via an inter-government agreement.
The company was established on 12 February 1998 with an authorised share capital of US$250 million.
India holds 50.5% share of the joint venture and its initial financial contribution was US$126.25 million, while Russia holds 49.5% share with an initial contribution of US$123.75 million.
