European defense manufacturer Thyssenkrupp Marine Systems and India’s Mazagon Dock Shipbuilders Ltd are set to construct submarines for India, signaling the country’s growing importance as ties between China and Russia deepen.
(Bloomberg) — European defense manufacturer Thyssenkrupp Marine Systems and India’s Mazagon Dock Shipbuilders Ltd are set to construct submarines for India, signaling the country’s growing importance as ties between China and Russia deepen.
Thyssenkrupp AG’s marine arm will helm engineering and design of the vessels, while its Indian counterpart will be responsible for construction and delivery, according to an initial pact, the German company said Wednesday.
The move is a change from two years ago, when the defense contractor had shown no interest in jointly manufacturing subs in India when the tender was announced. India is looking to build six conventional submarines at an estimated cost of $ 5.2 billion for the navy.
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