Thyssenkrupp AG’s marine arm and India’s Mazagon Dock Shipbuilders Limited are likely to jointly bid for an estimated $5.2 billion project to build six submarines for the Indian navy, according to people with knowledge of the matter, Bloomberg reported.
The preliminary agreement or memorandum of understanding will be signed in the presence of Defense Minister Boris Pistorius who arrived in New Delhi Tuesday for a two-day visit, German and Indian officials said.
Pistorius told public broadcaster ARD that the submarine deal will be on the agenda when he visits Mumbai Wednesday.
His role is to “support and assist” the negotiations between German executives traveling with him and their Indian counterparts, he said in the television interview. “This would be a big and important contract not only for German industry but also for India and the Indian-German strategic partnership,” Pistorius said.
SKH/PR