India and Spain signed an agreement of 43000 crores for submarine construction under 'Project 75'
Larsen & Toubro (L&T) and Spanish shipbuilding company Navantia have entered into an agreement on 10 July 2023 to build six stealth submarines under the P75 submarine program of the Indian Navy. Under this agreement, 4.8 billion Euros (more than Rs 43,580 crore) and 30 years have been contracted.
Navantia will design the P75(I) submarines based on its S80 class submarines. The Navantias have also been involved in the Scorpene submarines (Kalvari class) built in India.
Earlier, German submarine maker Thyssenkrupp Marine Systems (TKMS) signed an agreement with Mumbai-based Mazagon Dock Shipbuilders Limited to build six submarines for the Navy.
Apart from Navantia, South Korea's Daewoo, Russia's Rosoboronexport/Rubin Design Bureau and France's Naval Group were initially in the running. The P75(I) was launched in November 2007.
Navantia's third-generation submarine is considered the most advanced and efficient in the world, besides being the most compact and easy to use and maintain. It is also considered eco-friendly, as it uses bioethanol as a source of hydrogen.
