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2010 December 7   07:23

Two Primorye shipyards bag portfolio of 47 orders

Two modern shipyards projected to be built in Russian Primorye Territory have secured orders for 47 large ships. The delivery of more than 60% of the orders is scheduled for 2011-2015, the regional administration said referring to the contracts signed to date.

Presentation of investment projects of Zvezda-DSME and Vostok-Raffles shipyards for large vessels as objects of socio-economic development of Primorsky Territory took place at the Inter-regional conference of the United Russia party in Khabarovsk. Regional Governor Sergey Darkin told Prime Minister Vladimir Putin about the projects.

One of the shipyards in the Far East is being built by the Far East Center of Shipbuilding and Ship Repair (a sub-holding of the United Shipbuilding Corporation) jointly with the South Korean Daewoo Shipbuilding and Marine Engineering (DSME). Total project worth about $ 650m will be funded by the USC and DSME. Vnesheconombank is also expected to join the project. The new shipyard is designed to build 4 or 6 vessels a year. The yard construction is scheduled to begin in the coming days. Zvezda-DSME as well as Vostok-Raffles (a JV of USC and Singapore Yantai Raffles Shipyard Ltd.) are planned to start building vessels in 2012.

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