Russia's United Shipbuiding Corporation and state arms exporter Rosoboronexport have signed a deal with Algeria to build two new Tiger class corvettes, the Corporation's head said on Thursday, RIA Novosti reports.
The agreement was signed at the International Maritime Defense Show, IMDS-2011, in St. Petersburg.
"We have signed two agreements together with Rosoboronexport to sell two corvettes to Algeria and three light [Molniya missile] corvettes to a former Soviet republic," said USC President Roman Trotsenko.
He said the contracts signed at the show so far were worth $1.3 billion and more contracts were expected before the show closes on July 3.
The agreement was signed at the International Maritime Defense Show, IMDS-2011, in St. Petersburg.
"We have signed two agreements together with Rosoboronexport to sell two corvettes to Algeria and three light [Molniya missile] corvettes to a former Soviet republic," said USC President Roman Trotsenko.
He said the contracts signed at the show so far were worth $1.3 billion and more contracts were expected before the show closes on July 3.