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India signs USD3 billion SSN lease agreement with Russia

08 March 2019
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India has signed a USD3 billion inter-governmental agreement (IGA) with Russia to lease another Project 971 ‘Akula’-class nuclear-powered attack submarine (SSN) for the Indian Navy (IN) for 10 years from 2025 to augment the service’s capabilities.

Official sources told Jane’s that the two sides signed the IGA in New Delhi on 7 March following years of negotiations on price and other details for the 8,140 tonne boat, such as servicing and parts.

Under the deal Russia is expected to deliver the SSN by 2025: three years after the 10-year lease of INS Chakra – a similar Akula-class boat – ends in 2022.

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