Kaliningrad, Russia: Three additional modified Krivak-III (Talwar) class stealth frigates being built at the Yantar shipyard in Russia's Baltic exclave of Kaliningrad for the Indian Navy have been given their commissioning names, a shipyard spokesman said on Wednesday. Yantar started building the frigates in 2007.
In a continuing saga of Indo-Russian military projects delayed because of financial problems, Yantar's director Igor Orlov has now been forced to admit that the shipyard is seeking an additional $60 million loan due to "financial constraints."
He had earlier said the shipyard had previously taken out a $110 million loan from Russian national development bank Vnesheconombank (VEB).
The hulls of the three ships are ready and are on the launching berth, a statement from the shipyard said.
"Three frigates for the Indian navy, which are being built at our shipyard, have been given names - the Teg [Sabre], the Tarkash [Quiver], and the Trikand [Bow]." Sergei Mikhailov said.