In 2007 Yantar shipyard won a $1bn contract for building three frigates of Project 11356 for the Indian Navy.
Baltiysk-based Shipyard Yantar was founded in July 8,1945 on the basis of Koenigsberg F. Schichau shipyard. The company specializes in construction and ship repair of small and medium vessels for military and civil purposes. Throughout the years the Shipyard has built 154 warships and more than 500 merchant vessels. Currently, the major stakeholder of Baltiysk Shipyard Yantar is the state-owned Western Center of Shipbuilding, a subsidiary of United Shipbuilding Corporation.