A new Russian-Indian military transport...

Russia and India signed an intergovernmental agreement on the joint development of a multi-role transport aircraft (MTA) in 2007. The cost of the $600-mln project is being equally shared by the two countries.

"We are at the initial stage of the project. Maybe in 6-8 years we shall have the prototype aircraft flying," Ashok Nayak said in an exclusive interview with RIA Novosti.

The MTA project will be implemented by a Russian-Indian joint venture, co-founded by Russia"s arms exporter Rosoboronexport and United Aircraft Corporation (UAC) and India"s HAL.

An agreement on the formation of the JV is expected to be signed during the current visit of Russian Prime Minister Vladimir Putin to India.

"A green flag has been shown at this point...the work will progress very fast for the formation of the joint venture," Nayak said, adding that all necessary documents had been agreed on by both sides.

Moscow and New Delhi will have an equal share in the development

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