India on Tuesday struck a deal with Russia for the acquisition of the 44,500 tonne aircraft carrier 'Admiral Gorshkov' at a cost of Rs 3,000 crore.

NavaL chief Admiral Madhvendera Singh said the warship, armed with a squadron of MiG-29k fighters, will be almost 70 per cent new. It will be ready for induction in four and a half years.

"We have successfully concluded the price negotiations and the deal has been put forward to government for investment
decision as a composite package along with MiG-29K," Singh said at a news conference.

The deal will be signed later in December during the visit of the Russian Defence Minister Sergei Ivanov.

Admiral Singh, however, refused to confirm or deny whether the overall package deal included India getting on lease two Russian Akula class nuclear submarines and nuclear capable TU-22M long-range maritime bombers.

"Acquisition of Gorshkov would change the scene in the area," he said.