India and Russia to create joint venture to repair submarines

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The Indian company Pipavav Defence & Offshore Engineering Co Ltd (PDOC) and Ship Repair Centre “Zvezdochka” signed an agreement on the establishment of a joint venture to repair submarines of Project 877 Paltus in India, according to IANS news agency.

The shares of the Russian and Indian partners in the joint venture will be 49% and 51%, respectively.

“For the first time in India, the repair of submarines is seen as an activity for companies from the private sector,” the statement said.

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