INDIA’S CONTRACT WITH SOUTH KOREA FOR MINE COUNTERMEASURES VESSELS (MCMV)
after many years of dilly-dallying, it is reported that India is in the process of contracting south Korea’s Kanganam (lowest bidder) for the construction of eight McMVs to replace the ageing minesweepers of the Indian navy. McMVs are specialist vessels for detecting and destroying sea mines. as per the contract , Kanganam shipyard will deliver the first two MCMV to Goa Shipyard Limited (GsL) and the remaining six will be made at GsL with transfer of technology. The cost of each vessel is approximately $670 million and the project is to be completed by 2018.