India is set to ink the deal for 12 MCMV ( mine counter measure vessel) with South Korea. The MCMVs would be built in India here by Goa Shipyard Limited (GSL) with transfer of technology (TOT) from Kangnam Shipyard Corporation. The project is to be built under the government's famed policy of 'Make in India'. The deal being pegged at a cost of 32,000 crore rupees. 12 vessels are to be bought in this deal with an option for 12 more vessels on top of the existing order. According to various verified sources the Indian government paid $1 Billion for the Transfer of Technology. The Indian Navy had 12 vessels of such kind built by the soviets back in the 80's. The vessels are now obsolete with six vessels out of twelve in active service. Due to the use of Defense agents for lobbying by Kangnam Corporation which is not allowed in Indian legal system the 2008 global tender was cancelled. Later the Indian Ministry of Defence sent an Expression of Interest (EOI) for the willing transfer of technology by companies in the month of September 2015. In February 2016, Kangnam Shipyard responded and the only respondent leading to a single vendor situation which was accepted by the Indian government.
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