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Saturday, February 02, 2008

Govt ready to pay more for Gorshkov

India is willing to meet Russia midway in its demand for an additional $1.2 billion for the modernization, refit of the decommissioned carrier aircraft carrier Admiral Gorshkov.

Though there is reluctance to talk exact figures at this stage, with defence secretary Vijay Singh slated to lead a high-level team to Russia on February 19, defence ministry sources say India would be ready to shell out another $500-600 million to Russia for the 44,570-tonne carrier.

"Some of our teams are already in Russia. We do realise the extensive modernization work on the 44,570-tonne Gorshkov was underestimated at the time of signing the contract. But the $1.2-billion figure is way too high. We are negotiating with the Russians to cut it down by around half," said a source.

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