Global General

Russia to sign $10b deals with India

(Xinhua)
Updated: 2010-03-11 06:39

MOSCOW: Agreements worth more than 10 billion US dollars will be signed between Russia and India during Prime Minister Vladimir Putin's upcoming visit, said a Russian official on Wednesday.

Yury Ushakov, deputy chief of staff of Russian government, told a press conference that "14 or 15 documents are likely to be signed."

One major deal in the package would be the supply of 29 MiG-29K fighter planes to India, said Ushakov.

Another agreement that could be signed is an "additional contract on maintenance and modernization of the heavy aircraft carrying cruiser Admiral Gorshkov," he said.

Earlier reports said the aircraft carrier, which should have been supplied to India in 2008 if not for disputes over cost of the refurbishment, will be delivered at the end of 2012.

The official meanwhile did not rule out the possibility that the two sides might ink a deal on the joint development of fifth generation fighter jet.

The new aircraft will primarily be based on Russia's T-50 prototype fifth-generation fighter, designed to rival the US- made F-22 Raptor, so far the world's only fifth-generation fighter in active service.

According to the Interfax news agency, other agreements include an agreement on cooperation in the peaceful use of nuclear energy, a memorandum of understanding on broadening Russian-Indian cooperation in building new power generating units for the Kudankulam nuclear power plant, a framework agreement to deliver fertilizers to India, and an agreement to set up a joint venture to manufacture ground-based equipment for receiving signals from the Glonass space navigation system.

Putin is set to pay a two-day visit to New Delhi starting late Thursday.