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Cabinet clears $2.35 bn for Russian aircraft carrier
March 11, 2010
New Delhi: A cabinet panel Wednesday cleared the $2.35 billion fresh price for the aircraft carrier Admiral Gorshkov that India has purchased from Russia, an official said. The clearance comes a day before Russian Prime Minister Vladimir Putin arrives here on a two-day visit.
"The cabinet committee on security (CCS) has given its approval to the fresh price for Gorshkov," a defence ministry official said.
The long-delayed re-negotiated pact for the carrier, re-named INS Vikramaditya, will be among defence deals worth $4 billion that are expected to be finalized during Putin's two-day visit.
The warship, originally purchased for $1.5 billion, is currently undergoing a refit at Russia's Sevmash shipyard. Of this, $974 million was meant for the refit and the balance for a squadron of MiG-29K combat jets that will be deployed on the vessel.
Citing additional costs for the refit, Moscow had jacked up the price to $2.9 billion. New Delhi wanted the price to be scaled back to $2.1 billion.
Prime Minister Manmohan Singh, during his visit to Moscow last December, also pushed for the finalisation of the fresh price.
"The cabinet committee on security (CCS) has given its approval to the fresh price for Gorshkov," a defence ministry official said.
The long-delayed re-negotiated pact for the carrier, re-named INS Vikramaditya, will be among defence deals worth $4 billion that are expected to be finalized during Putin's two-day visit.
The warship, originally purchased for $1.5 billion, is currently undergoing a refit at Russia's Sevmash shipyard. Of this, $974 million was meant for the refit and the balance for a squadron of MiG-29K combat jets that will be deployed on the vessel.
Citing additional costs for the refit, Moscow had jacked up the price to $2.9 billion. New Delhi wanted the price to be scaled back to $2.1 billion.
Prime Minister Manmohan Singh, during his visit to Moscow last December, also pushed for the finalisation of the fresh price.
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Cabinet clears $2.35 bn for Russian aircraft carrier
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