Astrakhan based shipyard Lotus to invest RUB 653.7 mln in modernization this year

Astrakhan based shipyard Lotus (part of United Shipbuilding Corporation’s CNRG Group) is going to invest RUB 653.7 mln in modernization, NGO Industrial Trade Union refers to the company’s annual report.

According to the statement, investment programme for modernization of Lotus production facilities developed by the company for 2016-2020 was approved by Investment Committee of USC in 2016.

“Approval of the investment programme by the company’s BoD is expected in 2017. Total amount of planned investments is RUB 653.774 mln”, says the report.

In 2016, investments in modernization of the shipyard’s production facilities totaled RUB 127.975 mln.

The report also says that in June 2016 the company obtained the status of a resident of Lotus SEZ (Special economic zone). Tax privileges obtained by the company as a SEZ resident totaled RUB 15.6 mln in 2016.

JSC Shipyard Lotus (a subsidiary of MNP-Onshore & Offshore Group) operates two shipyards in Astrakhan region and specialized in construction of modules of topsides for offshore platforms. The company repair ships hulls, hull systems, and machinery. Since 2012 the shipyard is managed by United Shipbuilding Corporation (USC). The main shareholders are USC, Caspian Energy Group and the Government of the Astrakhan region.