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At DefExpo, Russian co wants to cut a big deal

Rosoboronexport for joint venture with Indian companies to manufacture large scale defence related products

PANAJI:

Rosoboronexport, a state intermediary agency of Russia for exports and imports of defence products, is ready for extensive involvement with Indian companies in large scale defence projects. This development comes on the sidelines of DefExpo, which is underway at Quitol in Quepem taluka. Rosoboronexport Deputy Director General Sergie Goreslavsky informed that they are in talks for setting up licensed production of Project 11356 frigates in India. Between 2003 and 2013, Russia delivered six Project 11356 frigates to India . The first three ships had Russian-built Klub-N cruise missiles and the latter three carried BrahMos cruise missles, which are jointly developed by Russia and India. Meanwhile, it was also announced that Russian Helicopters and Union Ministry of Defence will enter into a long-term maintenance agreement for India s fleet of Mi-17 helicopters. As of now, these helicopters only get after-sales service, while now they will get maintenance for their entire life-cycle. Russian Helicopters and Rosoboronexport both are subsidiaries of Rostec State Corporation, which also showcased VERBA at DefExpo for the first time outside of Russia.
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Mining loans: No more extension to OTS scheme

The State Government has decided not to grant any further extension to the OTS (OnernTime Settlement) scheme for those affected by Goa’s beleagured mining industry, tornsettle their bank loans which mainly include machinery truck and barge owners. The borrowers have two days left to clear their loans.

THE GOAN I NETWORK
Published Mar 30, 2016, 5:22 AM IST
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PANAJIChief Minister Laxmikant Parsekar has called for a meeting of the banks to decide onthe scheme. The scheme was extended till March 31. Speaking to The Goan, Parsekar said, “OTS was one of the umbrella schemes of the State Government through which we had tried to give relief to the mining affected especially to truckers and those who had lost their jobs due to closure of mining activities. They were given compensation for two years and after that we had told banks to…

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