Russian Shipbuilding Company Plans to Set Up Manufacturing Base in India
13:01 14.09.2016(updated 18:11 14.09.2016)
The United Shipbuilding Corporation of Russia, the country's largest ship manufacturer, may consider locating a manufacturing hub in Visakhapatnam in the Indian state of Andhra Pradesh.
New Delhi (Sputnik) – This could be a major thrust for India in the direction of self-reliance in defense manufacturing. President of Russia's United Shipbuilding Corporation Alexey Rakhmanov informed that his company is in discussions with State Government of Andhra Pradesh for the selection of a site to build a shipbuilding facility in the state and discussions have been productive.
He further added that Andhra Pradesh offers interesting and attractive propositions for the manufacturer. However, final decision will be made after an approval is secured from Russian Government.
Alexey Rakhmanov is visiting India to take part in a dialogue between Indian and Russian defense manufacturing companies. The event has been organized by Federation of Indian Chambers of Commerce and Industry (FICCI) and the Economic Development Board of Andhra Pradesh.
Speaking at the function, Alexey Rakhmanov said that "Russian companies take the Make-in-India campaign very seriously and trust this would provide an excellent collaboration opportunity for Indian and Russian companies to enhance and deepen their defense manufacturing cooperation."
A senior official from the state economic development board said the Russian company seems interested in investing in the largest ship manufacturing hub in the state. They said "It's difficult to comment on the quantum of investments but we are hoping for an agreement soon."
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