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U.S. markets recover from steep losses
MOSCOW, Dec. 31 (UPI) -- A Russian-Indian joint venture bought a manufacturing facility in India so it can double production of its supersonic cruise missiles, the company said.
BrahMos bought the plant from state-run Kerala Hightech Industries, allowing BrahMos to increase its annual missile production to 50, RIA-Novosti reported Monday.
India's representation in the joint venture, Defense Research and Development Organization, will invest roughly $25 million in the plant during the next two years, while the Indian Space Research Organization will put up $6 million, the Russian information agency said.
Besides assembling BrahMos missiles, officials said the facility will make components for the ISRO-produced Astra rockets.
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