India cancels Rs. 32,640-crore minesweepers project with South Korea

warshipIndia has cancelled Rs. 32,640-crore minesweepers (warships) project with South Korea owing to differences over cost, technology transfer and other issues, according to media reports.

The project that aimed to construct 12 advanced minesweepers for the Indian Navy could have been the costliest initiative under Prime Minister Narendra Modi’s flagship ‘Make in India’ programme.

According to reports, the Indian Navy requires 24 advanced warships to protect the east and west coasts. At present, India has only four 30-year-old minesweepers and these four vessels will be decommissioned between 2018 and 2020.

With deal failing with Seoul, Goa Shipyard has been asked to issue a new global expression of interest (EoI) for the MCMVs. The fresh RFP (request for proposal) or tender will follow thereafter, said a media report.