Bidding process is on for salvaging the frontline Russian-made Kilo class submarine which sunk after a major fire accident Aug 14, killing all 18 crew members on board.

Addressing a press conference here on Tuesday, the Indian Navy chief Admiral D.K. Joshi said out of five agencies that initially bid for salvaging the Sindhurakshak, two have been shortlisted so far and have been invited for commercial bids.

'The bidding process would conclude any day,' he said and added 'we are hopeful of using it after it is salvaged.'

According to Admiral Joshi a separate review board will be formed 'the moment the boat is floated' to test its condition.

'The board will have naval architects and maritime engineers... hull survey will be undertaken. Depending on the finding, a decision will be taken on using the submarine,' he said.

When asked about the probe into the causes of the accident, Admiral Joshi said 'any final conclusion will only be drawn after the submarine is afloat'.

On the question of the ordnance on board the submarine posing any threat, he said the investigations suggested the ordnance was 'stable'. He added that the agencies that will salvage the submarine will also have experts to handle the ordnance.