Senior Russian and Indian officials are sewing up final details for the purchase of aircraft carrier Admiral Gorshkov and MiG-29K fighters in a deal estimated to cost almost $2 billion.

The two delegations are involved in intense dawn-to-dusk negotiations in South Block to finalise the deal by the time Russian Defence Minister Igor Ivanov arrives in New Delhi on November 26.

A navy source said the finer details of the deal might not be complete by the time Ivanov arrives in India. "But it is a matter of few days before the two countries sign the final contract," he told rediff.com

According to sources the two sides have agreed to around $675 million to $682 million as the cost of overhaul for the carrier whose engine room was burnt down in a fire and which has been lying idle at Severodvinsk shipyard in Russia. "The final amount might vary by a few million here and there," a source said.

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Sources said for the amount the 44,570-ton carrier would get almost 70 per cent new items from electric fittings to navigation systems and weapons.

The two sides are now trying to thrash out the final price of MiG-29K aircraft to be placed on the carrier. According to indications, Indian Navy would in the first order purchase 16 MiG-29Ks, including three trainer versions.

The 16 would come with Admiral Gorshkov in about 48 months from the time of signing the deal.

The navy has indicated its willingness to acquire MiG-29Ks also for the Air Defence Ship, the indigenous carrier with 40,000-ton displacement being built in Kochi, when it is completed some 10 years from now. "But everything depends on the purchase and contractual terms," said a source.

Once the Gorshkov deal is inked, the two sides are expected to move faster on leasing of TU-22 long-range bombers and Akula class nuclear submarines.

The Russians had tied down both the requests to the signing of the Gorshkov deal.

According to naval sources the present projection of the navy is for five nuclear submarines -- three in the western sea off Mumbai and two in the east.