Russia to lease nuclear sub to India for 10 yrs

The official said the contract was signed earlier this year, but gave no further details. Interfax said the submarine will be ready by 2007.

Last month, Russian media reported that Amur Shipyards in the Russian city of Komsomolsk-na-Amure had resumed construction of two Project 971 submarines stalled for sev-eral years because of lack of funds.

Itar-Tass news agency said the submarine, which belongs to Russia’s most advanced Akula-II class and is comparable to the US Sea Wolf and modernised Los Angeles-class submarines, costs $1.7 billion. Interfax quoted experts as saying the price of the lease could run up to ‘‘tens of millions of dollars’’.

Project 971 submarines can be equipped with nearly 30 cruise missiles capable of delivering nuclear or conventional warheads as far as 3,000 km.

But according to Russian media reports, the submarine leased to India will be armed with nuclear-capable missiles of shorter range not exceeding several hundred kilometres.