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Thursday, May 01, 2008

Russia wants price escalation of $ 1.2 bn for Gorshkov

Russia has proposed a price escalation of a staggering USD 1.2 billion for re-equipping aircraft carrier Admiral Gorshkov and technical evaluation and negotiations in this regard are underway, Government said today.

Replying to questions in Rajya Sabha, Defence Minister A K Antony said the Russian side has indicated revision in time and cost for repairing the aircraft carrier due to "growth of work".

"The price escalation proposed by the Russian side is USD 1202 million. The process of examination of the scope and necessity for additional work projected by the Russian side has been initiated," he said.

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