MOSCOW, Feb. 17 (Xinhua) -- Russia and Saudi Arabia are negotiating a contract to supply the S-400 air defense missile systems to the kingdom, local media reported Sunday.

The two countries are holding additional consultations, Alexander Mikheev, CEO of Russia's state-run arms exporter Rosoboronexport, was quoted by TASS news agency as saying.

The S-400 system, designed and manufactured by Russia's Almaz-Antey arms manufacturer, is considered the most advanced of its kind in Russia, capable of destroying targets at a distance of up to 400 km and a height of up to 30 km.

According to Sputnik news agency, Russia has started supplying AK103 assault rifles to Saudi Arabia under a contract signed in 2017, Mikheev said at the IDEX 2019 international defense exhibition in Abu Dhabi.

The two countries will soon agree on a project to jointly produce AK103 assault rifles in Saudi Arabia, he added.