NEW DELHI, Jan 18: India has approved the purchase of a refurbished Russian aircraft carrier, the Admiral Gorshkov, and a deal worth more than $1 billion is likely to be signed this week, defence ministry officials said on Sunday.

The acquisition of the Gorshkov, along with MiG-29 combat jets to go with the carrier, is expected to greatly enhance the strike power of the country's navy.

The Gorshkov, which would take more than four years to refit, is a temporary replacement for an existing carrier that is due for decommissioning.

The purchase, which went through tough price negotiations, was cleared by the cabinet's security committee late on Saturday, Indian defence officials told Reuters.