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Govt approves revised cost of $2.33 bn for Gorshkov

Last Updated: Monday, March 15, 2010 - 21:33

New Delhi: Government on Monday said it has
agreed to pay USD 2.33 billion as the revised cost of aircraft
carrier Admiral Gorshkov and the warship is expected to arrive
in India by December 2012.

"The revised cost of USD 2.33 billion has been approved
by the government. Prices for the work to be carried out under
the revised contracts and agreements are fixed," Defence
Minister A K Antony said in reply to a Lok Sabha query.

He said the Russian side had submitted a revised Master
Schedule indicating a delay in delivery of the warship and
increase in its price after the deal was signed in 2004 for
USD 974 million.

On the delivery of the carrier ship, he said, "The
aircraft carrier was originally scheduled to be delivered in
August 2008. The ship`s delivery is re-scheduled for December,
2012."

He also said India has signed Inter Governmental
Agreements (IGA) with Russia for co-development and
co-production for Multi Role Transport Aircraft (MTA) on
November 12, 2007 and for a Prospective Multi Role Fighter
Aircraft (PMF) on October 18, 2007.

"The percentage share of investment by the Indian side
towards the development will be 50 per cent each for both
aircraft," Antony added.

The Minister said both the aircraft were expected to be
inducted into the IAF during the 13th Plan Period.

PTI



First Published: Monday, March 15, 2010 - 21:33

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