Pic Credit: Times Now
New Delhi: The Defence Ministry on Friday signed a deal worth around Rs 21,000 crore with Airbus Defence and Space of Spain to procure 56 ‘C-295’ medium transport aircraft for the Indian Air Force.
Confirming the deal, a Defence Ministry spokesperson tweeted, “Contract signed between Ministry of Defence and Airbus Defence and Space, Spain for procurement of 56 ‘C-295’ transport aircraft for the IAF.”
The new aircraft will replace the IAF’s ageing Avro-748 planes.
Under the deal, 16 aircraft will be delivered in a flyaway condition by the Airbus Defence and Space of Spain within 48 months of signing the contract.
The remaining 40 planes will be manufactured in India by a consortium of the Airbus Defence and Space and Tata Advanced Systems Limited (TASL) within 10 years of signing the contract, officials said.
It is the first project of its kind under which military aircraft will be manufactured in India by a private company, officials said.
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