SP's NavalForces - - NEWS -

The ` 32,640-crore (about$ 5.1 bil­lion) pro­gramme for 12 MCMVs was to be built at the Goa Ship­yard Lim­ited (GSL) with the col­lab­o­ra­tion of Bu­san-based yard, Kang­nam Cor­po­ra­tion of South Korea un­der the ÔMake in In­diaÕ ini­tia­tive. It is now learnt that ne­go­ti­a­tions with Kang­nam for new minesweeper ves­sels have col­lapsed at the fi­nal stage due to pric­ing, leav­ing great voids in the mine-war­fare ca­pa­bil­ity of the Navy. GSL chair­man Rear Ad­mi­ral Shekhar Mi­tal (retd) stated that, ÒWe were un­able to re­solve com­mer­cial com­pli­ca­tions de­spite our best ef­forts. This par­tic­u­lar deal with the Ko­re­ans is off.Ó This is the sec­ond time the deal with Kang­nam has been can­celled. In­dia will now have to start afresh by is­su­ing a global RFP for its quest for MCMVs.

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