SOURCE: RAUNAK KUNDE / NEWS BEAT / IDRW.ORG.
The Department of National Defense of the Philippine government has issued a Notice of Award (NoA) to BrahMos Aerospace notifying that the proposal of the company has been accepted for the acquisition of the shore-based anti-ship missiles system for the Philippine Navy. The contract value of the first export BrahMos deal has been pegged at $375 million.
BrahMos Aerospace has been asked to carry out performance security which is similar to the security deposit that means a financial guarantee that the company needs to furnish as the successful tenderer for the due performance of the contract that already has been carried out.
On December 27, the Philippines’ Department of Budget Management (DBM) had issued two special allotment release orders (SAROs) worth 1.3 billion pesos ($25.2 million) and 1.535 billion pesos ($29.7 million) to cover the initial funding requirements for the BrahMos deal to go through. Philippines intends to purchase two batteries of BrahMos missiles, as part of the Armed Forces of the Philippines (AFP)’s 2018-22 modernization program.
Apart from the Philippines, Vietnam could be the next BrahMos export customer as talks between the two countries have progressed. India has offered BrahMos to countries that have been facing increasing Chinese maritime adventurism in areas of the South China Sea and Indian Ocean Region.
Dr. Sudhir Kumar Mishra, former Chief Executive Officer and Managing Director of the BrahMos Aerospace Limited recently while speaking to the media had said that as per NATO’s studies only Two BrahMos hits can sink any big class of warships and smaller warships can be taken down by one BrahMos hit.
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