Russia submits revised refit schedule, cost escalation fee of $1.2 billion for INS Vikramaditya
22 Oct 2008
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The Government informed Rajya Sabha member Dr T Subbarami Reddy that Russia had submitted a revised master schedule, as well as an increase in price, for the repair and re-fitting of aircraft carrier INS Vikramaditya (ex-Admiral Gorshkov).
The revised schedule indicates a delay and the price escalation, as proposed by the Russian side, for repair, re-equipping, spares and training and other items stands at $1.202 billion.
Defence minister AK Antony informed the Rajya Sabha member that technical evaluation was underway currently and no cost negotiations had been initiated in this regard.
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