News

2020 February 13 15:31

IDF provides Vyborg Shipyard with RUB 700 million loan for construction of trawlers and crab catchers

Industrial Development Fund (IDF) will provide Vyborg Shipyard PJSC (a company of United Shipbuilding Corporation) with RUB 700 million under USC’s guarantee, USC says in a press release.

That amount will be spent for production of trawlers and crab catchers.

“IDF will grant the company RUB 700 million at 1% per annum for the first three years and 5% per annum for the remaining two years. The project features a bright aspect of import substitution: trawlers and crab catchers are mainly built by foreign shipyards today. We expect the shipyard to start producing such ships in 2021 thus decreasing the share of foreign manufacturers in the domestic market”, says IDF Director Roman Petrutsa.

According to USC head Aleksey Rakhmanov, the first project involving IDF will let Vyborg Shipyard obtain “new competence on production of sophisticated goods, install modern equipment and ensure high quality of output to meet the customers’ high demands”.  

With the loan granted by IDF, Vyborg Shipyard will purchase modern equipment that will contribute to modernization of its facilities and build up serial production of fishing trawlers and crab catchers 1.3 times. Those ships will be among the largest ones for bottom fishing in the Northern Basin. Their length will be 86 m, breadth – 17 m, depth – 10.1 m.

Each ship will be equipped with a modern plant for processing and production of fillet, fish meal, fish oil as well as a canning plant and freezing equipment. The trawlers will be fitted with powerful cargo cranes and a trawl complex of the latest generation .

Each trawler's production capacity will be up to 180 tonnes of fish per day. With their Ice4 class, the ships will let expand the catch geography.

Among the key customers are fishing and crab catching companies of the Murmansk, Arkhangelsk and Far East regions.

According to Vyborg Shipyard, 80-90% of fishing ships owned by Russian fishing companies are built by foreign shipyards. With the project implementation, this share is to be decreased to 75%-80%.

United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises 40 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates the bulk of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide.
Vyborg Shipyard PJSC (part of state-owned United Shipbuilding Corporation from 2012) is one of the largest shipbuilding companies of the North-Western Region of Russia. From the date of its foundation in 1948 the Shipyard has built 210 different vessels, 9 offshore drilling rigs and 105 topside modules for fixed offshore platforms with total displacement of over 1,550,000 t.