Indian Navy to finalise a raft of big ticket deals by year end

After years of delay, Indian Navy is all set to sign a deal with a South Korean defence major for building 12 minesweeping vessels at a cost of nearly Rs 35,000 crore.

Controller of the Navy’s Warship Production and Acquisition Vice Admiral D M Deshpande said issues between Goa Shipyard and the South Korean collaborator in the project have been sorted out and the deal should be sealed by the end of this year.

The Navy’s existing fleet of six Soviet-origin minesweeping ships will be decommissioned by the end of 2018. Read more

Credits: economictimes.indiatimes.com

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