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India signs $3 billion contract with Russia for lease of a nuclear submarine
Defense News: India on Thursday signed a $3 billion contract for the lease of an Akula-1 class nuclear-powered attack submarine from Russia for a period of 10 years.
An agreement was signed between India and Russia after two years of negotiations on the price and various other aspects of the deal. Under the pact, Russia will have to deliver the Akula-1 class submarine, to be known as Chakra III, to the Indian Navy by 2025.
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