A Russian shipyard will float out the last two of three frigates for India's Navy by the end of the year, a Yantar spokesman said on Monday.
The first of three Project 11356 frigates was taken out of dry dock at the end of November.
The warships will become modified Krivak III class (also known as Talwar class) guided missile frigates for the Indian Navy under a $1.6 billion contract signed in July 2006.
Indian President Pratibha Patil has named the new ships the Teg (Hindi for Saber), the Tarkash (Quiver), and the Trikand (Bow).
The new frigates will be armed with eight BrahMos supersonic cruise missiles.
They will be also equipped with a 100-mm gun, a Shtil surface-to-air missile system, two Kashtan air-defense gun/missile systems, two twin 533-mm torpedo launchers, and an anti-submarine warfare helicopter.
In an interview with RIA Novosti last year, Yantar director Igor Orlov said the shipyard was in talks with Russia's Vnesheconombank on "a $60 million loan to complete the construction of the three frigates for the Indian Navy."
Russia has previously built three Talwar-class frigates for India - INS Talwar (Sword), INS Trishul (Trident), and INS Tabar (Axe).
KALININGRAD, January 11 (RIA Novosti)