Navantia, L&T sign pact to jointly bid for Navy’s P75 (I) submarine programme: Spain’s Navantia, Larsen & Toubro signed a Teaming Agreement in the premises of Spanish Embassy on July10, with the purpose of submission of a techno-commercial bid for the Indian Navy’s prestigious Project-75 (India) submarine program.
Daily Current Affairs Quiz: July 2023
Why in News?
- On July 10, Larsen, Toubro, and Navantia inked an agreement at the Spanish Embassy in New Delhi.
- The agreement was signed in the presence of N. Subhramanyam, L&T MD and CEO and Augustin Alvarez Blanco, Naval Construction Vice Presidet, and Member of the Board-Navantia.
- The agreement was formed in order to submit a techno-commercial offer for the famous P-75 (India) submarine project of the Indian Navy.
- Project 75(I) of the Indian Navy requires the Indian bidder to tie up with foreign collaborator and execute the program for delivery of six conventional submarines equipped with Air-Independent Propulsion.
- Project 75(I) is considered India’s greatest defence purchase project, with a budget of more than Euro 4.8 billion.
- Project 75(I) would be the first project to be processed under the ambitious strategic partnership.
Involvement of Navantia:
- Navantia will design P75(I) submarines based on its S80 class of submarines, the first of which launched in 2021 and is currently undergoing sea trials before being delivered to the Spanish Navy at the end of 2023.
- Navantia has also been involved in design and construction of Scorpene class of submarines together with DCNS of France, which have to be exported to Chile and Malaysia.
- Navantia has also been involved in Scorpene Submarines built in India including handholding of the Indian Yard.
About the Project-75(I):
- Project-75(I) is a military acquisition initiative affiliated to India’s Ministry of defence.
- The goal of Project-75(I) is to plan the procurement of diesel-electric submarines for the Indian Navy as well as to develop indigenous private-sector capabilities to design, develop, and produce sophisticated weapon systems to satisfy the Armed Forces’ future demands.
- Project-75(I) provide a major boost to the indigenous design and construction capabilities of submarines in India.
- Project-75(I) also benefits the industrial/manufacturing sector, particularly small and medium-sized businesses involved in the production of submarine spares and equipment.