OREANDA-NEWS. October 22, 2008. Ukrainian and French defense industry enterprises will be modernizing together Russia-made Mi-24 combat helicopter that is in operational service with the Armed Forces of Ukraine.

First Deputy Industrial Policy Minister Vitaliy Nemylostyvyi disclosed this at a round-table meeting on Ukraine's defense industry cooperation with NATO.

He informed that a relevant contract must be signed by the end of the year.

The Ukrainian party to the project will be represented by five enterprises, the deputy minister said adding those companies are highly competitive according to French experts.

An upgraded Mi-24 will be in demand both in Ukraine's home market, for the army needs, and abroad, including for participation in UN and NATO operations, Nemylostyvyi says.

"The project is of a common interest with regard for exports for third countries," he emphasized.