| Defence industry to sign GBP 70mn contracts with UK The defence industry will benefit of indirect offset contracts worth of GBP 70mn in exchange for upgrades carried by British companies at the Romania’s two frigates purchased in the view of NATO membership, according to media reports quoting Joe Cook of BAE Systems. According to the agreement between Romania and the UK reached last year, the GBP 117mn upgrade works are to be 80%-90% indirectly offset while the remaining 10%-20% will be directly offset [namely through Romanian subcontractors].
Source: Intellinews
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