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MiG Jet Fighters Heading for Yemen
RSK MiG will soon seal two contracts worth $2.3 billion. In particular, the corporation will undertake to upgrade 66 MiG-29 fighters in India and supply 32 new MiG-29SMTs to Yemen, doubling the MiG portfolio. Meanwhile, the analysts forecast new contracts for MiGs to be made with the states of the Middle East in the near term.
It was the analytical service at MDM Bank that released yesterday the information about two new contracts of RSK MiG. MDM Bank arranges a new bonded loan of the corporation.
RSK MiG entered into a protocol of intent with Yemen to supply 32 MiG-29SMT jet fighters there worth $1.3 billion. Moreover, RSK won the tender for upgrading in India 66 MiG-29s valued at $0.85 billion to $1 billion. The contracts will be signed in the first quarter of 2007, analysts of MDM Bank said.
But the source with the aviation community of Russia specified that the deal with India could be clinched already in September and the contract with Yemen is likely to be sealed in November or December. In view of these two deals, representatives of RSK MiG said yesterday, the order portfolio of the corporation will step up from $2.5 billion to $4.8 billion by 2009. The new orders may drive up the 2007 earnings of MiG to $1.1 billion vs. $245.8 million posted in 2005.
www.kommersant.com
All the Article in Russian as of Aug. 31, 2006
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