Pakistan to buy 8 submarines from China
A report claimed the contract could be worth between $ 4 billion and $ 5 billion
By : DC Correspondent
Update: 2015-07-25 01:47 GMT
Islamabad: Pakistan and China have agreed to a multi-billion dollar deal under which Beijing will provide 8 submarines to the Pakistan Navy. Analysts are calling the largest-ever defence deal China has agreed to with any country. “Pakistan and China have reached an understanding on matters of defence cooperation relating to Pakistan Navy,” the finance ministry said after meeting the Chinese authorities. “Financial arrangements to this effect were also concluded,” a statement said.
According to a briefing that the defence ministry gave to parliament in April, Pakistan was negotiating a deal for acquisition of submarines from China. A report claimed the contract could be worth between $ 4 billion and $ 5 billion.