India Approves Production Of Indigenous Submarines Worth $2.9 Billion

Indian Defense Ministry has approved to build six conventional diesel electric submarines indigenously. The preliminary (AON) cost of the project would be Rs.18798 crore ($2.9 billion).

However, the final cost arises through the bidding / negotiation process.

The Defence Acquisition Council (DAC) has approved constitution of a ‘Core Committee’ to identify suitable Indian shipyards to bid for construction of six submarines.

Defence Minister Shri Manohar Parrikar said in Parliament yesterday.