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Saturday, July 05, 2008

India may have to pay $2b more for Gorshkov

India may have to shell out as much as $2 billion more to Russia to get aircraft carrier Admiral Gorshkov by end-2012.

This will be over and above the original $1.5 billion package deal signed in January 2004, under which India was to get a fully-refurbished Gorshkov with 16 MiG-29K fighters.

The defence ministry, after a lot of groundwork, now hopes to begin the "formal renegotiation" of the entire 2004 contract with Russia in August after a nod by the Cabinet Committee on Security (CCS).

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