New Delhi: Engineering behemoth Larsen & Toubro (L&T) has signed a teaming agreement with Spanish building company Navantia for the P75 (India) submarine program to deliver six submarines.

Valued at over 4.8 billion euros, the P75(India) submarine programme is the country's largest defence acquisition. This agreement follows a Memorandum of Understanding (MoU) signed between L&T and Navantia earlier this year in Madrid.

Project 75(I) requires the Indian bidder to tie up with a foreign collaborator and execute the programme for delivery of six conventional submarines equipped with air-independent propulsion (AIP), while achieving targetted indigenous content. “This would also be followed by a 30-year lifecycle sustenance contract of similar value. P75(I) would be the first programme to be processed under the ambitious Strategic Partnership (SP) model of acquisition of the Ministry of Defence, L&T and Navantia," read the statement.

“We are committed to providing the most advanced solution at a competitive price, offering the Bio-Ethanol Stealth Technology (BEST) and an environmentally friendly AIP solution that meets the Indian Navy's requirements," said SN Subrahmanyan, CEO & MD of L&T.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines, the first of which was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy at the end of 2023, according to the statement.

“Apart from S80 class, Navantia has been involved in design and construction of Scorpéne class of submarines together with DCNS (Now Naval Group) of France, which have been exported to Chile and Malaysia. Navantia has also been involved in the Scorpene submarines (Kalvari class) built in India including handholding of the Indian yard," it said.

Navantia previously has been involved in projects like the Scorpène class and aiding the Indian shipyard for the Indian-built Scorpène submarines (Kalvari class).