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IN’s MCMV deal hits a roadblock

The long-pending $1.5 billion deal to procure Mine Counter-Measures Vessels (MCMVs) for the Indian Navy is reportedly heading for a roadblock owing to the alleged irregularities found recently in the deal. Last year, the Defence Ministry had given its nod to acquire two MCMVs and technology transfer from South Korean company Kangnam Corporation which was to be followed by Goa Shipyard constructing another six such vessels. The deal was yet to get inked. The Indian Navy is in need of MCMVs which are used to detect, track and destroy mines laid by enemies and has plans to eventually get 24 such vessels over the next decade at a cost of Rs 24000 crore.

http://timesofindia.indiatimes.com/India/Whiff-of-scam-in-Rs-2700-crore-contract-for-South-Korean-warships/articleshow/41827034.cms

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