SPAIN’S NAVANTIA SIGN PACT TO BUILD SUBMARINES FOR INDIAN NAVY

Engineering behemoth Larsen & Toubro (L&T) has signed a teaming agreement 

with Spanish building company Navantia for the P75 (India) submarine program to deliver six submarines.

Valued at over 4.8 billion euros, the P75(India) submarine programme

 the country's largest defence acquisition.

- Veekay

This agreement follows a Memorandum of Understanding (MoU) 

Project 75(I) requires the Indian bidder to tie up with a foreign collaborator

 and execute the programme for delivery of six conventional submarines

 while achieving targetted indigenous content

- Veekay

This would also be followed by a 30-year lifecycle sustenance

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