Search This Blog

Wednesday, July 22, 2015

Pipavav to upgrade Kilo class submarines; announces agreement with Russia to make India servicing hub

INS Sindhurakshak (S63)Eying an upcoming Rs 5,000-crore Indian contract to upgrade Kilo class submarines, Gujarat-based Pipavav Shipyard has announced an agreement with Russia that is looking to create a global servicing hub for submarines in India.

The agreement, which is likely to be converted into a joint venture company with a 51% stake for the Indian company, was inked with Russia's Zvyozdochka on Tuesday. Pipavav said this is the first time the work for refit of submarines is being considered for the private sector.

As reported by ET, Russia had been scouting for an Indian partner for the programme and had been in talks with Pipavav for the past few months.

Read more

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.