Investments in the second phase of Leningrad Shipyard “Pella” will reach RUB 3 billion, including 1.5 billion of the enterprise own funds and 1.5 billion of credit facilities, Leningrad region Governor Alexander Drozdenko said after a meeting with business leaders of shipbuilding and related industries.
Upon completion of a new yard in the village of Severny in Kirov district, the newbuilds manufacturing is expected to double, up to 12 tugs and large ships a year of a total of 12 billion rubles. The construction is scheduled for completion by 2014.
"The enterprise management has requested to sign an agreement on investment activity, to receive tax breaks for the payback period. In terms of investment volume the shipyard falls under the parameters of the law and in the near future the agreement will be concluded," said Alexander Drozdenko.
During the meeting the official noted that the region has seen fast development of port facilities, such as Ust-Luga, Primorsk, Vysotsk and today there is a need for new ships.
"Ports need tugs, ships and bunkering vessels. Therefore, the shipbuilding industry of the Leningrad region has good prospects," the Governor said.
JSC Pella Shipyard based in Russia’s Leningrad region was founded in 1950. In 1992 Pella was privatized as Pella Holding Co. comprising the head office and several subsidiaries. The shipbuilding firm specializes in building harbor tugs with rated power of 1,000-5,000hp, pusher tugs, escort tugs, pilot boats and rescue boats for Russian and foreign customers.