The Defence Ministry has signed a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force.
The long-pending procurement was cleared by the Cabinet Committee on Security two weeks back.
Under the deal, 16 aircraft will be delivered in a flyaway condition by the Airbus Defence and Space 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.
The C-295 MW aircraft is a transport plane of 5-10 tonne capacity.
With input from agencies
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