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2011 December 7   16:25

CNRG Group buys 80.16% stake in Astrakhan-based shipyard

Caspian Energy Projects Ltd. (CNRG Projects) has announced the acquisition of a 80.16 percent stake in Shipbuilding Ship Repair Yard named after III International based in Astrakhan (SSRZ), the shipbuilding firm said.

OJSC Shipbuilding and Ship Repair Yard named after III International is a Russian shipbuilder specializing in the construction of barges. The company is part of Astrakhan Shipbuilding Production Association (ASPA), which itself is a member of Caspian Energy Group.

Caspian Energy Projects is a CNRG Group’s business unit is engaged in procurement and different projects management and providing logistics services, installation, commissioning and start-up testing.

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