Agreement on creation of Baltic shipbuilding cluster signed in Kaliningrad

On November 28, 2014, an agreement was signed on creation of a Baltic region shipbuilding cluster, Baltic Shipyard “Yantar” told IAA PortNews.

The agreement was signed within the framework of the conference “Shipbuilding. New approach to human capital assets” organized by Baltic Shipyard “Yantar” OJSC and held in Svetlogorsk.

According to the source, the activities under the agreement will commence immediately after its signing.

The project implies the creation of a competitive compact-yard allowing for cutting time needed for construction of warships and commercial vessels by half, generation of new jobs, raising wages and improving operational efficiency.

Baltic Shipyard “Yantar” based in Kaliningrad, Russia was founded on July 8,1945 on the basis of a Koenigsberg unit of German’s Schichau Werft. Yantar Shipyard specializes in building and repairs of warships and civil boats. Throughout the years the Shipyard has built 158 warships and more than 500 merchant vessels. The Russian Government holds majority stake in the shipbuilding firm through Western Center of Shipbuilding, a subsidiary of state-owned United Shipbuilding Corporation.