Russia will invest 3 trillion rubles ($100 bln) in the development of the country's defense industry in the next decade, Deputy Prime Minister Sergei Ivanov said on Monday.
"We have prepared a state program on the modernization of the defense industry until 2020 with a budget of 3 trillion rubles," Ivanov said after a meeting of defense industry officials in the southern Siberian republic of Udmurtia.
Russia will invest 77 billion rubles ($2.6 bln) in the production of ballistic missiles alone in the next ten years.
Ivanov said a ballistic missile production holding will be set up with the participation of Russia's Federal Space Agency. The holding will include the Moscow Institute of Thermal Technology, which designed the Topol and Bulava missiles.
Prime Minister Vladimir Putin said at the same meeting that Russia would double production of ballistic missiles after 2013.
VOTKINSK (Siberia), March 21 (RIA Novosti)