Russia possesses over 5 billion in foreign naval orders

Moscow, Oct 21 (UNI) Russia has currently over five billion in foreign orders for naval hardware for the next three years.

''The portfolio of orders, namely contracts signed and in force, is estimated at over 5 billion dollars, with different deadlines up to 2011,'' Mr Ivan Goncharenko, first deputy general director of Rosoboronexport, Russia's main state arms exporter, told RIA Novosti news agency today.

In 2007, the share of naval equipment in Rosoboronexport's portfolio of export orders was nine per cent or 600 million dollars, Mr Goncharenko said.

He said India, China, Algeria, Vietnam and Indonesia remained key buyers of Russia's naval armaments.

India and China have purchased submarines, frigates and destroyers. Vietnam has ordered Svetlyak-class fast attack boats and frigates, while Indonesia would receive corvettes built in Russia in cooperation with Spanish firms.

Referring to the naval orders from Venezuela, Mr Goncharenko said Russia had not signed any contracts with Caracas to supply submarines, as some media reports had speculated.

''We discuss arms deals with many countries, but as of today Rosoboronexport has no submarine contracts signed with that country,'' he said.

Venezuelan Vice President Ramon Carrizales was earlier quoted as saying that the Latin American state planned to buy Amur-class diesel submarines from Russia.

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