Russian Deputy Prime Minister Dmitry Rogozin and senior government and naval officials of the two countries are also scheduled to attend the ceremony for handing over the Kiev class carrier (formerly called Admiral Gorshkov) retrofitted and upgraded under Project 114430 at the cost of USD 2.3 billion.
After almost nine years of negotiations the initial USD 1.5 billion contract for retrofitting the aircraft carrier and buying 16 MiG-29K, K/UB deck-based fighters was signed in 2004.
However, lack of due diligence at the time of initial assessment of work led to whopping cost escalation that stalled its repairs and modernisation.
The aircraft carrier deal had become a major irritant in bilateral relations. By the end of 2007, when it became clear that Russia will not deliver the radically redesigned vessel by 2008 deadline, the relations dipped to an all-time low.
In their private discussions Indian officials conceded that even with the cost escalation, it was a good deal, since a similar vessel would cost not less than double the price in the international market, but nobody makes aircraft carriers for export.
"Almost everything on the Vikramaditya is new," Chief Delivery Commissioner of Sevmash shipyard, Igor Leonov said.
Talking to PTI on the jetty of the Sevmash, where the 4,500-tonne aircraft carrier was being prepared for the commissioning ceremony, Leonov said only 40 per cent hull of the vessel was original while rest was absolutely new.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
