Big Boost For Indian Air Force: Defence Ministry Concludes Cost Negotiations For C-295 Transport Aircraft

In a major development for the Indian Air Force (IAF), the Ministry of Defence led by Union Minister Rajnath Singh has concluded the cost negotiations with Tata and Airbus for the purchase of 62 Airbus C-295 transport aircraft, reports The Hindu.

The Ministry having concluded the cost negotiations will now be placing the matter up for clearance of the Cabinet Committee on Security (CCS), a nod from which can be expected in the next few months.

The total contract is worth a whopping $3 billion and the sole bid by Tata and Airbus for the project was approved by the Defence Acquisition Council (DAC) back in 2015. The Request For Proposal (RFP) for the planes was issued to global firms even earlier in 2013.