Saturday, June 19, 2021

Indian Navy Seals $500 Million Deal With Russia for Two Warships

Indian Navy has sealed a US $500 million deal with Russia for the construction of two missile frigates in Goa. Two officials of the Indian Navy on the condition of anonymity said the warships are expected to be delivered by 2027.

The contract was signed between Russia’s state-run arms exporter Rosoboronexport and India’s Goa Shipyard Limited (GSL) to build the Grigorovich-class ‘Project 1135.6’ frigates with technology transfer from Russia.

This is the second major deal between the two countries, with the first being the nearly $1 billion deal for two other such warships which is expected to be delivered by 2022-2023.

According to the Hindustan Times, a government official said the warships being built in India would cost a lot more than $500 million. “The $500 million is for the foreign content in the vessels including materials, design and specialist assistance. The frigates will cost more factoring in the indigenous content.”

The ships are to be fitted with the most advanced missiles and other weapon systems. The Chairman and Managing Director of GSL Shekhar Mital told PTI that construction of the ships will begin in 2020. “The first one will be ready for induction in 2026 while the second one will be ready by 2027.

Currently, Russia is India’s top arms supplier. India has gone ahead with arms deal with Russia amid warnings by the United States of sanctions. It is known that the Trump administration has put several Russian firms under sanctions under Countering America’s Adversaries Through Sanctions Act (CAATSA).

Other News at EurAsian Times

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