NEW DELHI, December 1 (RIA Novosti) - Russia is going to increase its share in the authorised capital of the BrahMos venture jointly with India. BrahMos finances and coordinates the development, production and sale of antiship missile systems, Russian Defence Minister Sergei Ivanov told journalists in New Delhi. He is now on an official visit in the Indian capital.
"We will increase the authorised capital of the BrahMos joint venture", he said. "The corresponding governmental resolution will hopefully be signed tomorrow".
The Russian-Indian BrahMos JV was set up after inking the bilateral governmental agreement on cooperation in the development and manufacture of antiship missile systems in February 1998.
Its Russian share-holder is the Federal Unitary State Enterprise (FGUP) Scientific-Industrial Association (NPO) Machine-Building (authorised capital share 49.5 percent), Indian share-holder is the Defence Research and Development Organisation under the Indian Defence Ministry (authorised capital share 50.5 percent).
