Government seals Rs 1,207-crore deal for short refit, dry docking of INS Vikramaditya

New Delhi: The defence ministry signed a contract with state-run Cochin Shipyard Limited on Saturday for the short refit and dry docking of aircraft carrier INS Vikramaditya at a cost of Rs 1,207 crore.

INS Vikramaditya is a modified Kiev-class aircraft carrier purchased by India from Russia in 2013 under a $2.3 billion deal and it was renamed in honour of Vikramaditya, the legendary emperor.

The Russian-origin ship is often called a floating airfield.

"The Ministry of Defence signed a contract with M/s Cochin Shipyard Ltd on November 30 for short refit and dry docking of INS Vikramaditya at an overall cost of Rs 1,207.5 crore," an official readout said.

After the completion of the refit, INS Vikramaditya will join the active fleet of the Indian Navy with upgraded combat capability, it added.

"This project is an important step towards development of Cochin Shipyard Ltd as Maintenance, Repair and Overhaul (MRO) Hub for supporting the industrial ecosystem of India," the ministry said in the readout.

"The project envisages the involvement of nearly 50 MSMEs and would lead to employment generation for more than 3,500 personnel," it said.

The ministry said the project will provide a major boost to the government's vision of "Atmanirbhar Bharat" (self-reliant India) and Make in India initiative.