Anil Ambani’s Pipavav handpicked for Indian Navy’s biggest ever pvt sector warship project
Advertisement
Making it private sector’s biggest ever warship project, the Russian Government , under Indian PM Narendra Modi’s ‘Make In India’ initiative, has picked Anil Ambani 's Pipavav shipyard for the naval frigate order.
As reported by Economic Times, the order would fetch gains of around $3 billion. TheIndian government was in advance talks with the Russian government for the past few months. Indian Navy has been battling to increase fleet strength as public sector shipyards are engaged in executing current orders.
What added another feather to Modi’s cap is thatMoscow , which was trying to build the frigates at a Russian shipyard last year, was decisively told that the order would only be placed through Indian PM’s ‘Make In India’ route.
Though the project would definitely be flexible enough to accommodate an Indian partner, the report stated further.
Russia , before finalizing Pipavav evaluated a number of Indian shipyards including Larsen & Toubro, Mazgaon Dockyard Ltd and Cochin Shipyard Ltd. As per officials, a formal letter was sent by Federal Service for Military Technical Cooperation (FSMTC) director Alexander Fomin last week confirming the partnership. The record deal is the first one landed by Pipavav after it was taken over by Anil Ambani's Reliance Group recently.
The contract, which is supposedly a government-to-government pact, could be signed in the existing financial year and might take another six to eight years to deliver. Vice-Chief of naval staff, Vice-Admiral P Murugesan has confirmed that tentative talks are on and when decided, the frigate order will be under the Make in India initiative only.
The new stealth frigates will be a vital addition to the navy's surface fleet that is fast being upgraded to meet security challenges in the region. India has already bought six Russian-built Talwar class frigates, the last of which was delivered in 2013.
Image source
Advertisement
As reported by Economic Times, the order would fetch gains of around $3 billion. The
What added another feather to Modi’s cap is that
Though the project would definitely be flexible enough to accommodate an Indian partner, the report stated further.
Advertisement
The new stealth frigates will be a vital addition to the navy's surface fleet that is fast being upgraded to meet security challenges in the region. India has already bought six Russian-built Talwar class frigates, the last of which was delivered in 2013.
Image source
Advertisement
- Thailand is now welcoming Indians with open arms, but are its drought-hit islands really prepared for a tourism influx?
- Thoughtful gift ideas to make Mother's Day extra special
- Muslims up, Hindus down: What’s the larger picture behind India’s religious population trends?
- Scooch over magic mushrooms, toad venom could be the next big psychedelic for depression and anxiety!
- TBO Tek IPO allotment – How to check allotment, GMP, listing date and more
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market