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2009 March 10   06:34

RF government to support shipbuilding industry

The government will allot RUB 10.5bn (approx. USD 292.56m) to support the shipbuilding industry in 2009, Industry and Trade Minister Viktor Khristenko stated at a meeting on civil marine engineering development. According to the minister, the figure already factors in budget optimization, and includes amounts allotted for all projects. In 2010, RUB 17.5bn (approx. USD 487.6m) more will be spent to this end. Some of the projects to be financed with the money are aimed to improve Russia's defensive capacity.

Khristenko also noted that from 1996 to 2005, Russian shipyards received only 4 percent of the total Russian orders, although the industry can well cater for up to 30 percent of the total. The share has been rising, although slowly. In 2007, the minister said, Russian shipyards already received 6 percent of the orders, and 8 percent in 2008.

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