A multi-million dollar Indo-Russian deal for the modernisation of MiG-29 fighters of the Indian Air Force is expected to be inked next month.

"The contract stipulates the modernisation of 64 MiG-29 fighters, including eight fighter-trainers," Interfax Military News Agency reported quoting defence industry sources.

"Due to change of leadership at the Indian Defence Ministry the deal could not be signed earlier, but now it would be signed by the end of next month," the report said.

In the course of modernisation, the Indian fighters will be equipped with new Zhuk-ME radars capable of engaging several targets simultaneously.

The modernisation contract will run into 'several hundred million dollars' and the lifecycle of the upgraded MiG-29 fighters would be extended from current 25 to 40 years.

Upgradation of first two prototypes of MiG-29 fighters will be carried out in Russia [Images], while rest would be modernised at Hindustan Aeronautics Limited facilities at Ojhar near Nasik by 2010.