India and Russia are likely to conclude a comprehensive Su-30MKI spares pact by next month that would facilitate quick delivery of required spares to the IAF fleet.
The long term agreement is expected to provide an express process for the delivery of spares for the Indian fleet.
"Unlike in the past where each spare part had to be ordered separately which involved a lengthy process that included license, customs clearance and bank guarantees, the agreement will ensure that spare parts start getting manufactured within a month of the requirement," Yury Slyusar, President UAC told a select group of media at Aero India Airshow Tuesday.
When asked what would be the financial impact of this agreement, he said, it would be 'hundreds of million dollars.'
The agreement includes a spare parts hub at Hindustan Aeronautics (HAL) at Bangalore. Currently It takes about 18 months to deliver spares from Russia. After the new setup takes effect, this term is expected to be shortened to 2-3 months.
HAL and the Russian OEM had in the recent past increased the servicability rate of the Su-30MKI to 60 percent. Post the new spare parts agreement, the serviceability rate is expected to climb upto 75 percent, Russian sources said.