Government on Thursday said the $1,783 million to be spent for refurbishing and repairing the Admiral Gorshkov aircraft carrier "compares well" with the price of similar warships built in other countries.
"The repair and refurbishing cost of about $1,783 million ($1.78 billion) of the ship compares well with the cost of other aircraft carriers of similar capabilities being built elsewhere in the world," Defence Minister AK Antony said in written reply to a Rajya Sabha query.
India and Russia recently signed a fresh deal worth $2.33 billion dollars for the Gorshkov, which was originally to be procured at a cost of $974 millions under a 2004 agreement.
Pointing out the reasons behind procuring the Russian-built aircraft carrier, he said,"requirement of two operational aircraft carriers for the Navy has been considered essential to perform its mandated tasks. Further, aircraft carriers are not easily available."
Antony added, after taking these aspects into consideration, the induction of the aircraft carrier was finalised to enhance the combat capability of the Navy.
Meanwhile, answering another query, the Minister said in last four years only one accident had taken place during the aerial display of defence aerobatic teams.
A Kiran Mk II aircraft of the Navy had crashed on March 3 this year at Hyderabad at an air show. While two defence services personnel died in the accident, two civilians were injured."