LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Four foreign firms in contention for submarine project P-75(I)

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Oct 20, 2017
08:19 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Four foreign ship-builders have emerged as the main contenders for the government's ambitious project to build six advanced stealth submarines at a cost of around Rs 60,000 crore under the strategic partnership model.

Official sources said French firm Naval Group, Russia's Rosoboronexport Rubin Design Bureau, Germany's ThyssenKrupp Marine Systems and Sweden's Saab group have responded to the government's request for proposal (RFI) for the project.

Spain's Navantia and Japan's Mitsubishi-Kawasaki Heavy Industries, who were known to be among the leading contenders for the project, did not respond to the RFI, the sources said.

There was indication that Japan was keen on a government-to-government deal for the project.

The deadline for responding to the RFI for the programme christened as Project 75 (I) was October 16.

It is set to be the first defence acquisition project to be launched under the ambitious 'Strategic Partnership' model which aims to rope in private firms to build military platforms like submarines and fighter jets in India in partnership with foreign entities.

The government is expected to soon launch the process to select the Indian shipyard for joint manufacture of the submarines with the chosen foreign entity.

The project is being considered critical to counter the rapid expansion of China's submarine fleet. The Navy has been pressing the government for clearing the project.

Engineering conglomerate Larsen and Toubro and Reliance Defence are the only private firms eligible to participate in the P-75 I programme, said another source. Defence PSU Mazagon Dock Ltd is also in contention for the project, touted as one of the biggest in recent years.

Six Scorpene-class submarines are currently being built under 'Project 75' of the Indian Navy. The submarines, designed by French firm Naval Group (earlier known as DCNS) are being built by Mazagon Dock Limited in Mumbai.

The project P-75 (I) will be a follow-on for Project 75.

A total of six submarines are to be built under the Project-75 (I) programme.

Under the SP model, select private firms will be engaged to build military platforms like submarines and fighter jets in India in partnership with foreign entities.

A 49 per cent FDI cap has been kept for setting up ventures under the strategic partnership model for production of defence platforms and the companies will be in control of Indian entities.

As per the framework, to manufacture major defence platforms, the select Indian companies will require tie-ups with Original Equipment Manufacturer (OEM) for transfer of technology (ToT).

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Kiran Jadhav picks Tata Motors stock in Anil Singhvi’s show | Know why he dubbed it a buy

Stocks To Buy With Anil Singhvi: Sanjiv Bhasin recommends buy on BEL, Tata Power, for high returns

SBI, ICICI Bank, HDFC Bank remain systemically important banks: RBI

Facebook has no plan to reinstate Donald Trump's account across apps

In chat with Anil Singhvi, Sandeep Jain recommends Nelco share | Money-making opportunity

ICICI Lombard General Insurance Share price: Sharekhan recommends a Buy with a revised price target of Rs 1750

Massive DISCOUNT on iPhones, iPads, AirPods, others - iPhone 11 priced at Rs 47,127; grab money saving deals on Paytm Mall Republic Day Sale

Biden Inauguration LIVE: Joe Biden says it is a new day in America; Obama says this is your time

Big bonus confirmed! Rs 5 crore cash reward for Indian cricket team after massive triumph in Australia

Proud moment for India, Telangana! Joe Biden inauguration speech writer is Indian-American Vinay Reddy - Top things to know

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved