India Pay $3 Billion to Lease Nuclear Sub from Russia

Share on

NEW DELHI:India has signed a $3 billion deal to lease a nuclear-powered submarine from Russia. The contract for the Akula-1-class submarine includes refurbishment of the submarine, currently mothballed at Severodvinsk. The deal also includes maintenance and spares support for 10 years, as well as training and technical infrastructure, the Times of India reported March 11. The nuclear-powered class of submarines, known in Russia as Shchuka-B, is armed with cruise missiles as well as torpedoes, anti-aircraft missiles and mines. India expects the submarine, which will be called Chakra III, to be ready by 2025. It was reported that India is leasing another Akula-class submarine, Chakra II, for 10 years through 2022 and is negotiating an extension. The first Russian nuclear-powered submarine, Chakra was leased in 1988 for three years. In all, India operates 13 ageing conventional submarines, including the one leased from Russia. Last November, India declared its first indigenous nuclear-powered submarine with nuclear-tipped ballistic missiles, which are designed as SSBN.