The agreement has a time horizon of 15 years and focuses on modernisation and refitment of all Russian origin surface warships of the Indian Navy at Reliance’s newly acquired facility in Pipavav, according to the business daily.
The agreement has a time horizon of 15 years and focuses on modernisation and refitment of all Russian origin surface warships of the Indian Navy at Reliance’s newly acquired facility in Pipavav, according to the business daily.
Prime Minister Modi arrived in Moscow on Wednesday. During his visit both countries are set to seal a raft of deals in key sectors like defence, nuclear energy and hydrocarbons.
A delegation of 18 Indian industry leaders is already in Russia to accompany Prime Minister Modi.
India is expected to sign a Rs. 30,000 crore deal for four new improved Talwar class (Krivak-3 follow-on/Admiral Grigorovich class) frigates, reports the newspaper.
Two of these frigates will be fully made in India at the Pipavav facility of Reliance Defence, while two will be built in collaboration with USC in Russia.
The second part of the deal includes the refit, maintenance and life-extension of 35 Russian and Soviet-origin surface vessels with the Indian Navy.
This modernisation and refitting work will also be done at Pipavav Defence and Offshore Engineering Company Ltd. (PDOC).
The combined value of the two opportunities exceeds Rs. 66,000 crore, according to the newspaper.
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