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India, US signs $750 Mn deal for 145 M777 howitzers

India has signed the Letter of Acceptance which formalizes the contract worth $750 Million (~Rs 5000 Crores) between India and United States (US) for 145 BAE Systems manufactured M777 155mm/39 calibre ultra-lightweight howitzers being acquired through the Foreign Military Sales (FMS) programme. The contract entails offsets of about $200 Million, which will be pursued independently by BAE Systems. While 25 guns will come to India in a fly-away condition with the deliveries to begin in May 2017, the rest will be assembled at the proposed Assembly Integration and Test facility for the weapon system in India in partnership with Mahindra. The first two howitzers will be delivered within six months of the contract being inked, while rest will be delivered at the rate of two per month.

Source:http://economictimes.indiatimes.com/news/defence/india-inks-rs-5000-crore-deal-with-us-for-145-m777-howitzers/articleshow/55711781.cms

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