MOSCOW, December 4 (RIA Novosti) - Russia...
The original $750 million contract to deliver the Admiral Gorshkov to India, which Russia's state-run arms exporter Rosoboronexport signed with the Indian Navy in 2004, stated that the work would be completed in 2008.
However, Russia later claimed it had underestimated the scale and the cost of the modernization and demanded an additional $1.2 billion, which New Delhi said was "exorbitant."
"This issue is not the simplest one in our relations," Dmitry Medvedev told reporters on the eve of his December 4-5 visit to India.
"However, I believe that we must show mutual respect, agree on the final terms of cooperation in this project, and ensure its successful implementation," he said.
According to various sources, after long-running delays and disputes, Russia and India agreed in February to raise retrofit costs for the aircraft carrier, docked at the Sevmash shipyard in northern Russia for the past 12 years, by at least $800 million.