The first helicopter of the Bulgarian Air Force that will undergo repair works will be ready in August, representatives of the Israeli Elbit Systems said.

Elbit Systems yesterday signed a contract for the repair and modernisation of 12 helicopters Mi-24 and six transport aircraft Mi-17, Sega newspaper reported.

The Bulgarian subcontractor of the deal is Terem. Yesterday Terem's managing director Marian Yovchev signed a contract with Elbit Systems vice-president Menahem Bargev, the newspaper reported.

Terem will receive 13 million leva for the execution of the project. All repair works need to be completed in three years.

The Bulgarian company expects the signing of additional contracts in September. These would lead to further projects estimated at four to five million leva.

Nearly 3000 Terem employees will participate in the repair works. After modernisation the helicopters can be used for additional 15 years.