India to accept Russian funding guarantees for submarine upgrade

[r@ven21]

India’s Ministry of Defence (MoD) appears, for now, to have resolved the financial deadlock with sanction-hit Russia over providing bank guarantees for one of its significant naval programmes.

Industry sources said the Indian government had agreed, ahead of Prime Minister Narendra Modi’s visit to St Petersburg for an economic summit in early June, to waive the mandatory bank guarantee for the mid-life upgrade (MLU) of an Indian Navy (IN) diesel-electric Kilo-class submarine.

Instead, New Delhi will accept a sovereign guarantee from the Russian government for INS Sindhukesari ’s INR10 billion (USD156.25 million) MLU at the Zvezdochka shipyard in Severodvinsk in northern Russia.

http://www.janes.com/article/71218/india-to-accept-russian-funding-guarantees-for-submarine-upgrade

 

[Dark Lord Forever]

India’s Ministry of Defence (MoD) appears, for now, to have resolved the financial deadlock with sanction-hit Russia over providing bank guarantees for one of its significant naval programmes.

Industry sources said the Indian government had agreed, ahead of Prime Minister Narendra Modi’s visit to St Petersburg for an economic summit in early June, to waive the mandatory bank guarantee for the mid-life upgrade (MLU) of an Indian Navy (IN) diesel-electric Kilo-class submarine.

Instead, New Delhi will accept a sovereign guarantee from the Russian government for INS Sindhukesari ’s INR10 billion (USD156.25 million) MLU at the Zvezdochka shipyard in Severodvinsk in northern Russia.

India is getting BEEKH (alms) from Russia for submarine. How piss, poor, pathetic state India is? Now we patriots are making fun of Pakistani debts but truth is India too is just another BHIKHARI (begger) with a begging bowl.

 

[r@ven21]

India is getting BEEKH (alms) from Russia for submarine. How piss, poor, pathetic state India is? Now we patriots are making fun of Pakistani debts but truth is India too is just another BHIKHARI (begger) with a begging bowl.

It's for mid life upgrade Mr..It can be done in Indian shipyards but all shipyards are busy right now procuring ACs,Submarines & Ships..
We have 380 Bn Forex reserve..
Pakistan's GDP 270 Billion