The German government is expected to take up a stake in submarine manufacturer, the TKMS (Thyssenkrupp Marine Systems)
Meanwhile, the Indian Navy’s mega submarine deal under Project-75I, estimated to cost upwards of ₹43,000 crore, has moved to the evaluation stage with compliance checks of the two bids received, one of which is from the TKMS
The German government’s move to pick up a stake in the TKMS is in line with the company’s interest and will strengthen its shareholders confidence
An Indian Navy team visited TKMS in March and conducted the field evaluation trials (FET) and it has met the criteria specified, multiple sources confirmed.
The FET of Navantia of Spain, the second bid, is expected to be completed before June
Joint Initiative
The design offered by the TKMS for P-75I is based on its highly successful Class 214 submarine as well as Class 212CD, with the submarine featuring angular design for minimised radar cross-section
Meanwhile, Mazagon Dock Shipbuilders Limited (MDL), the Indian partner of the TKMS, has begun work on the first phase of submarine design
The Request For Proposal (RFP) issued by the Navy detailing the specifications states that the first submarine should have indigenous content (IC) of 45% which should go up to 60% for the sixth and last submarine
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