India to Sign $3 Billion Deal With Russia To Lease Akula Class Nuclear Submarine For 10 Years
India will sign a $3 billion deal with Russia this week to lease another nuclear attack submarine. The Akula class submarine – Chakra-III will be customised and fitted with indigenous communications systems and sensors.
New Delhi, March 5: India will sign a $3 billion deal with Russia this week to lease another nuclear attack submarine. The Akula class submarine – Chakra-III will be customised and fitted with indigenous communications systems and sensors, reported The Economic Times. It will be the second biggest deal with Russia after $5.5 billion agreement to procure S-400 advanced air defence system which was finalised in October 2018. India Inches Closer to Inking Rs 23,000 Crore Deal with Russia To Get Akula Class Nuclear Submarine on Lease.
According to the ET report, the intergovernmental agreement for the submarine lease is likely to be inked on March 7 and the vessel will be ready by 2025. It is a nuclear attack submarine powered by a nuclear reactor but armed with conventional weapons. It is currently mothballed at a Russian naval shipyard in Severodvinsk. S-400 Triumf Deal Among Other Key Defence Agreements Signed Between India and Russia During Modi-Putin Meet.
In 1988, the Indian Navy inducted a Project 670 Skat-class nuclear-powered cruise missile submarine which was renamed as INS Chakra. This submarine was inducted on a three-year lease. Meanwhile, in 2012, a second INS Chakra, the retrofitted K-152 Project 971 Akula-class Nerpa, was leased for 10 years. The Chakra-II currently serves with the Eastern Naval Command. Both India and Russia are discussing to extend the lease for another five years to 2027.
(The above story first appeared on LatestLY on Mar 05, 2019 11:25 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).