India has awarded a $3.12 billion contract for local production of 464 T-90S main battle tanks after paying a technology transfer fee to Russia.
The contract was signed with little fanfare earlier this month. The deal stipulates that Russian original equipment manufacturer UralVagonZavod and arms export agency Rosoboronexport will be paid $1.2 billion for technology transfer, while India’s state-owned Ordnance Factory Board will be paid $1.92 billion for local production of 464 T-90S tanks, according to an Indian Ministry of Defence official. Read More…
