05:52 GMT03 August 2021
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    ST. PETERSBURG (Sputnik) - The joint Russian-Indian venture BrahMos Aerospace told Sputnik on Sunday that it plans to sign $1 billion worth of new contracts by the year-end, which will take the company's yearly total to $6 billion.

    "We plan to sign a number of contracts soon. Thus, our total order portfolio will amount to $6 billion by the end of this year", a company spokesperson said.

    Most orders were placed by land forces, 40 percent, the spokesperson said. Navy and air forces accounted for 30 percent of the orders each.

    At the moment, the worth of BrahMos' contracts signed in 2021 is just over $5 billion.

    BrahMos Aerospace, established in 1998, specialises in producing cruise missiles and supporting equipment, such as launchers and missile guidance systems.

    Tags:
    India, Russia, defence
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