LE BOURGET (France), June 18 (RIA Novosti) - Russia's aircraft builder MiG plans to supply abroad 350 modernized MiG-29 Fulcrum fighters with a total value of $10-12 billion, a deputy general director said Monday.

"By 2020, we plan to deliver 350 units of the upgraded version of the MiG-29 with a value of $10-12 billion," Vladimir Vypryazhkin told a news conference in the Paris suburb of Le Bourget.

The 47th International Paris Air Show on June 18-24 will host 2,000 companies from 42 countries, including 60 Russian defense contractors. The world's most prestigious air show is expected to yield a series of lucrative deals between Russian and foreign, mostly European, companies.

Vypryazhkin said more than 1,600 MiG-29 aircraft are currently in use in 29 countries. He added that Commonwealth of Independent States members have been interested in upgraded MiG-29 in recent months.

"Firstly, I would say Kazakhstan, Turkmenistan, Uzbekistan, and Ukraine," he said.

Vypryazhkin also said MiG-31 Foxhound fighters are also being modernized at an increasing rate.

Earlier it was reported that Russia will demonstrate the latest MiG fighter at the 2007 Le Bourget air show. The MiG-29M OVT (Fulcrum F), a highly maneuverable air superiority fighter, was unveiled for the first time in August 2005 during the MAKS Air Show outside Moscow.

MiG-29s are armed with a 30mm cannon, air-to-air short and intermediate-range missiles, and are capable of carrying rockets and bombs.