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Home >> World
UPDATED: 08:23, June 16, 2005
Greece discloses details of TOR-M1 anti-aircraft systems deal
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The defense ministry of Greece disclosed on Wednesday the details of the anti-aircraft missile system deal concluded between Greece and the Rosoboronexport company.

The ministry's spokesman told reporters that the agreement settles pending issues concerning the main contract and the offset benefits agreement regarding the procurement of the TOR-M1 anti- aircraft missiles systems.

According to the deal, Rosoboronexport has assumed the obligation to complete the linking of the TOR-M1s with the country 's Unified Air Defense System and workability with the S-300 PMU- 1 system over a period of six months.

The Russian side will submit a letter of guarantee by the Russian Vnesheconombank bank worth 4.68 million dollars.

Linking and workability components and spare parts, which have arrived at Athens airport months ago, will be received by the Greek side after the final signing of the main agreement's new amendments.

The credit value of offset benefits will increase from 857 million dollars to 1.33 billion dollars.

Source: Xinhua


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