31 May '16, 5am

India to Cancel All Defence Tenders Bagged by Finmeccanica

India to Cancel All Defence Tenders Bagged by Finmeccanica

The government has decided to cancel all ongoing tenders for defence equipment won by Italy’s Finmeccanica as a precursor to blacklisting of the firm which is being investigated for bribery in the AgustaWestland VVIP chopper deal. This was disclosed by Defence Minister Manohar Parrikar, who in an interview to news agency PTI also said that the process for blacklisting Finmeccanica and its subsidiaries has already been started and a note for the same sent to the Law Ministry. “Wherever there is capital procurement of Finmeccanica and their subsidiaries, all Requests for Proposal (RFP) will be closed. I am very clear,” he said. However, he said, the annual maintenance and import of spare parts of already acquired defence supplies will be continued with the firm and only fresh capital acquisition is being nixed. The government has already withdrawn the RFP for heavy weight to...

Full article: http://www.defencetalk.com/india-to-cancel-all-defence-te...

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