(NSI News Source Info) NEW DELHI, India - August 14, 2010: The Indian government has sanctioned a price increase of $1 billion in the cost of the six Scorpene class submarines it has on order. The cost increase is the result of initial teething problems, absorption of technology, and augmentation of infrastructure and procurement materials in the Mazagon Dock Ltd. The last of the six submarines will now be delivered in the second half of 2018.
India's Defence Acquisitions Council approves $11bn for six new submarines, which is to provide the Navy with six next generation diesel-electric submarines. For this purpose, the Defence Acquisition Council (DAC), chaired by Defence Minister A K Antony, recently approved the allocation of Rs 50,000 crore, equalling $11 billion.
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