The marine arm of Germany’s Thyssenkrupp and India’s Mazagon Dock Shipbuilders are likely to jointly bid for an estimated US$5.2 billion (S$7 billion) project to build six submarines for the Indian navy, according to people with knowledge of the matter, Bloomberg reported.
The preliminary agreement or memorandum of understanding will be signed in the presence of German Defense Minister Boris Pistorius, who arrived in New Delhi on Tuesday for a two-day visit, German and Indian officials said.
Pistorius told public broadcaster ARD that the submarine deal will be on the agenda when he visits Mumbai on Wednesday.
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