Defence Ministry Clears Rs 40,000 Crore Project To Build 6 Submarines

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New Delhi: In a significant decision, the Ministry of Defence (MoD) on Thursday cleared a proposal to indigenously build six submarines – in a move which is likely to further strengthen the country’s defence apparatus.

According to news agency ANI, the project is likely to cost Rs 40,00o crore to the state exchequer. The go-ahead to the project was given during a meeting of the Defence Acquisition Council (DAC), which is Defence Ministry’s highest decision-making body on defence procurement.

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, news agency PTI quoted government officials as saying.

During the DAC meeting, the MoD also cleared a proposal to acquire 5,000 Milan 2T anti-tank guided missiles for the Army.