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4/11/2023, 1:10 PM (Source: TeleTrader)
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Japan, Mitsubishi Heavy Industries conclude $2.8B missile deal

The Japanese Ministry of Defense revealed on Tuesday in a notice that it has concluded defense weapons production contracts with Mitsubishi Heavy Industries Ltd., worth 378 billion yen (approximately $2.84 billion).

The company will be manufacturing ground, sea and air-launched missiles, alongside a hypersonic ballistic warhead. Giving more details on the "long-range guided anti-ship missiles that can be launched from submarines," the ministry noted that the weapon should be ready by 2027.

The official body explained that this defense project is based on the Defense Buildup Plan, formulated back in December 2022 in an effort to strengthen the country's capabilities amid rising regional tensions.

Baha Breaking News (BBN) / AY