Def Ministry clears Rs 40,000 crore project to construct 6 submarines

NEW DELHI: The Defence Ministry on Thursday approved indigenous construction of six submarines for the Indian Navy at a cost of over Rs 40,000 crore, officials said.

The decision was taken at a meeting of the Defence Acquisition Council, the Defence Ministry’s highest decision making body on procurement, they said.

The project will be implemented under the strategic partnership model which provides for roping in private firm to build select military platforms in India in partnership with foreign defence manufacturers, the officials said. (AGENCIES)