• 2022 June 17

    Gov’t looks into lending a helping hand to domestic shipyards

    According to PortNews, shipbuilding enterprises can receive financial support from the Russian government, similar to the support provided previously to the aviation and road building sectors of the country. The measure involves an increase of authorized capital of state-owned shipyards (nearly 40 enterprises) that are members of United Shipbuilding Corporation. This will require overall about RUB 130 billion. More than half of the funds will reportedly be directed to the North-West region based shipyards specializing in building cargo ships, fishing fleet and icebreaking vessels for the Arctic routes. Experts believe that the funds partially offset the cost of components and materials amid general inflation and sanctions.