Article Posted on : - Sep 05, 2011

Mi-38. Photo: Russian Helicopters.

MOSCOW (BNS): Russian Defence Ministry has signed a $4 billion contract with Russian Helicopters for the procurement of 140 helicopters.

According to a news report in RIA Novosti, the deal has been delayed for a long time due to price related disputes but finally the contract was signed on August 31.

"As per the deal, until 2020, Russian Helicopters will supply 140 helicopters to the Defence Ministry," Andrei Reus, director general of the state-owned Oboronprom Corporation, was quoted as saying in the news report.

The news report also added that, Russian Helicopters has allocated $200-250 million for research and development work, mainly helicopters such as Mi-38, Ka-62, Mi-34S1 and Mi-17.