ALGIERS, March 10 (RIA Novosti) - Russia's main arms exporter has concluded arms deals with Algeria worth $7.5 billion and is planning to sign other contracts worth another $2-3 billion, the head of Rosoboronexport said Friday.

"We have signed arms contracts totaling $7.5 billion in the last two-three months, including on deliveries of air defense systems, combat aircraft, ships and combat vehicles," Sergei Chemezov told a news conference.

He said 90% of contracts were for sales of new equipment and only 10% of the deals were for the modernization and repair of equipment previously sold to the country.

"We dominate the Algerian arms market and sell military equipment only for real money," Chemezov said.

He also said Russian military equipment was as good as similar foreign equipment but 15%-20% less expensive.

"I hope we will be able to conclude new contracts worth about $2-3 billion," the head of Rosoboronexport said.

Russian media previously reported that contracts for the delivery of 40 MiG-29SMT Fulcrum fighters, 20 Su-30 MK Flanker fighters, 16 Yak-130 Mitten combat trainers, eight battalions of S-300 PMU2 Favorite air defense systems and 40 T-90 main battle tanks had been initialed before President Vladimir Putin's visit to the North African country.