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Saturday, November 01, 2008

India rejects Russian aircraft carrier price demand

India's finance ministry has for the second time rejected a proposal from the nation's defence ministry to approve an additional $1.2 billion in funds to complete a retrofit project to the decommissioned Russian aircraft carrier Admiral Gorshkov.

Moscow had originally agreed to deliver the modernised vessel for $1.5 billion, but demanded the additional payment after citing factors including an underestimation of the level of work required at its Sevmash shipbuilding yard.

India, which has already paid Russia two-thirds of the original programme cost, has made no further payments since January 2007, and the 44,500t carrier's expected delivery date has slipped from 2009 until at least 2012.

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