Indian Navy's new submarines will cost $1 bn each
Kickstarting one of the Indian Navy's most important weapon construction programmes, the ministry of defence issued a tender for building six conventional submarines, at an Indian shipyard, in technology partnership with a chosen global original equipment manufacturer (OEM).
The MoD has pegged the cost of six submarines at about Rs 43,000 crore (Rs 430 billion) This means that each boat (navies traditionally refer to submarines as 'boats') will cost a staggering $1 billion.
This six-submarine acquisition, code-named Project 75(I), follows on from the ongoing Project 75 -- the construction of six conventional Scorpene boats by Mazagon Dock Shipbuilders, with technology supplied by Naval Group of France.
Three of the six Scorpenes have already joined the navy's fleet. The remaining three are expected to join by 2023.
'Project 75(I) envisages indigenous construction of six modern conventional submarines... with contemporary equipment, weapons, and sensors, including fuel cell-based air independent propulsion plant, advanced torpedoes, modern missiles and state-of-the-art countermeasure systems,' the MoD stated.