Germany Nears $5.2 Billion Deal to Build Submarines in India
- Thyssenkrupp, Mazagon likely to bid jointly for the project
- India’s submarine fleet is aging and up for decommissioning
Models of submarines at a Thyssenkrupp Marine Systems exhibit in Berlin in 2022.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Germany and India are closing in on a deal to build diesel submarines in the South Asian country as Russia’s prolonged war in Ukraine pushes New Delhi to expand its sources of military hardware beyond top supplier Moscow.
Thyssenkrupp AG’s marine arm and India’s Mazagon Dock Shipbuilders Limited are likely to jointly bid for a project worth an estimated $5.2 billion to build six submarines for the Indian navy, according to people with knowledge of the matter, who asked not to be identified as the details are confidential.