Navy agrees to buy four Russian frigates for $3 bn

The navy's medium term plans envisage increasing warship strength from the current 140-odd, to 198 warships by 2027

New Delhi and Moscow have finalised contractual terms for four new stealth frigates that Russia will supply the Indian Navy for slightly over Rs 200 billion ($3 billion), or about Rs 50 billion ($775 million) per vessel.  

Designated the “Upgraded Krivak III class”, the first two frigates will be built in Yantar Shipyard, in Kaliningrad, Russia. The following two will be built in Goa Shipyard Ltd (GSL) with technology and designs transferred by Yantar. Delivery will begin within four years of signing the contract.

With a defence ministry “cost negotiation committee” having hammered out terms, it remains for the finance