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2009 September 29   15:14

VEB to finance construction of a super shipyard in Primorsk with first tranche totaling RUR 700 mln

Vnesheconombank (VEB) has approved granting of the first tranche to the amount of RUR 700 mln to Vyborg Shipyard JSC (Leningrad region) for construction of a new shipyard in Primorsk (Leningrad region), journalists learnt from the yard’s Director General Valery Levchenko. RIA Novosti cites him as saying that the shipyard received the confirmation on September 28 and that the sum is expected in early 2010.

Total investment into the project amounts to RUR 38.5 bln for four years with infrastructure accounting for RUR 4.8 bln.

As PortNews IAA earlier learnt from Georgy Poryadin, Chairman of Vyborg Shipyard BoD, the construction of a super yard in Primorsk is to commence in 2010 provided that VEB grants a loan. 

According to Georgy Poryadin, the yard has already been designed to the expenses of the shareholders of Vyborg Shipyard. With the VEB financing the construction may be completed in 2013. 

Vyborg Shipyard JSC is one of the largest shipbuilding companies of the North-Western Region of Russia with over 50-years’ experience in shipbuilding. Vyborg Shipyard was founded in 1948. Today it specializes in construction of sea platforms for development of the fields at the shelf as well as in construction of small and average capacity vessels.

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