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Tuesday, October 31, 2006

India to build six French submarines under pact

The first French Scorpene submarine will be ready for service within seven years

  • The contract will just about fill the breach in submarine force levels that are poised to decline
  • French Scorpene is `best suited' to the Navy's requirements


Scorpene SubmarineIndia on Thursday signed a deal to construct six French submarines in the country at a cost of over Rs. 15,000 crores.

The official go-ahead for this mega project had come through a joint statement made by Prime Minister Manmohan Singh and the French President Jacques Chirac in Paris on September 12.

The contract will just about fill the breach in submarine force levels that are poised to decline.

The deal has a 30 per cent offset clause, meaning that one-third of the cost of the deal would be met through import substitution. The first French Scorpene submarine will be ready for service within seven years of signing the contract. The others will follow at an interval of one year.

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