New Delhi, Dec 14 (ANI): Defence Minister A K Antony on Monday assured the Lok Sabha that procurement of defence items, including missiles is made from various indigenous as well as foreign sources in accordance with the well laid down defence procurement procedure.
Replying to a question Antony said: "Procurement is a continuous process undertaken for the modernization of the armed forces to keep them in a state of readiness to meet any eventuality."
He informed the House that: " The Defence Research Development Organization (DRDO) has undertaken joint development of missiles, Long Range Surface-to-Air Missile (LRSAM) for Indian Navy and Medium Range Surface to Air Missile (MRSAM) for Indian Air Force (IAF) with M/s Israel Aircraft Industries (IAI), Israel."
"The cost of project for LRSAM is Rs. 2606.02 crore and cost of project for MRSAM is Rs. 10075 crore," Antony added.
He also informed the member that both the missiles being developed are comparable in performance and cost to missiles available in their class in the world market.
Replying to another question Antony said the letter of offer and acceptance for procurement of six C-130J aircraft was signed with the US Government on January 31, 2008.
He said the aircraft procurement is likely to cost Rs. 3835.38 crores.
"The production of the aircraft has commenced and is running as per schedule. The aircraft are likely to be delivered to the Indian Air Force during 2011-12,"Antony said. (ANI)