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03:33 PM, June 12, 2017
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Indian Government To Launch US$ 9.3 Billion Worth Navy Submarines Project

The Indian government is set to roll-out the process for US$ 9.3 billion (INR 60,000 crore) submarine programme for its navy, to bolster military presence in Indian Ocean region.

The Defence Ministry is likely to issue the Expression of Interest for the project soon, to kick start the process for mega deal, official sources told PTI.

The current defence acquisition project, Project 75 (I), to be launched under the 'Strategic Partnership' model finalised last month aims to rope in leading private players for the production of major military platforms in the country. Its a follow-on for Project 75 under which Scorpene-class submarines are currently being built for the Indian Navy.

Larsen and Toubro and Reliance Defence are the only private firms eligible to participate in the P-75 I programme, in addition to Defence PSU Mazagon Dock Ltd who is also in contention for the project.

A total of six submarines are to be built under the P-75 (I) project. Under the SP model, select private firms will be engaged to build military platforms like submarines and fighter jets in India in partnership with foreign entities.

As per the framework, to manufacture major defence platforms, the select Indian companies will require tie-ups with OEM for transfer of technology (ToT).

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