UPDATE 1-Raytheon says bidding for India tank upgrade

* Partnering Larsen & Toubro for 1,000 tank contract

* Contract value seen at more than $100 mln (Adds detail)

NEW DELHI Feb 12 (Reuters) - Raytheon Co (RTN.N), the world's biggest missile maker, said on Friday it and partner Larsen & Toubro (LART.BO) have bid for the contract to upgrade 1,000 T-72 battle tanks in India.

Defence ministry officials said India was looking to spend at least $100 million in upgrading the tanks, which India bought from Russia three decades ago.

"The upgrade will increase the lethality of the T-72 tanks," Fritz Treyz, vice president, Raytheon (India operations), told Reuters.

Ratheon has a tie-up with engineering and construction firm Larsen & Toubro in India.

The upgrades will include weapons and computer systems and enhance its operation by night.

India, one of the world's biggest arms importers, wants to spend $50 billion buying and upgrading weapons over the next five years.

Treyz said Raytheon will also launch the "fish hawk", an anti-submarine warfare weapon system next week in India. (Reporting by Bappa Majumdar; Editing by Lincoln Feast)