Report Says That India And Russia Sign Deal Of $500m For Construction Of Two Classic Warships

By gowidenews

India, Russia sign $500 million deal for construction of 2 Classic warships

The deal for the project was signed between India’s defence PSU Goa Shipyard Ltd and Russia’s state-run defence major Rosoboronexport

 Published on: Tue, Nov 20 2018. 
Vehicles are parked near the office building of Rosoboronexport company in Moscow, Russia. Photo: Reuters
Vehicles are parked near the office building of Rosoboronexport company in Moscow, Russia. Photo: Reuters
New Delhi: India and Russia Tuesday signed a $500 million deal for construction of two warships in Goa for the Indian Navy under the technology transfer model, officials said.
They said the agreement for the project was signed between defence PSU Goa Shipyard Ltd (GSL) and Russia’s state-run defence major Rosoboronexport under the government-to-government framework for defence cooperation.
Under the deal, Russia will provide design, technology and some materials to GSL for construction of the ships in India.
“We have finalised a $500 million deal with Russia for construction of two warships in Goa,” CMD of GSL Shekhar Mital told PTI.
He said construction of the ships will begin in 2020 and the first one will be ready for induction in 2026 while second one will be ready by 2027.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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