Negotiations collapse in Indian minesweeper project
The Indian Navy’s (IN) quest to build 12 mine countermeasures vessels (MCMV) under an INR328 billion ($5.2 billion) ‘Make in India’ programme has collapsed at the final hurdle.
Goa Shipyard Limited (GSL) was supposed to build the dozen 800t minesweepers with 60% indigenous content via support from the Kangnam Corporation based in Busan, South Korea, after the latter had been selected as the sole-source overseas partner in 2015.
However, negotiations over pricing and technology transfer recently ground to an abrupt halt.
On 7 January the Hindustan Times quoted GSL chairman Shekhar Mital as saying, ‘We were unable to resolve commercial
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