Draft Order of RF President on Establishment of Marine Engineering Corporation published by federal portal for draft laws

Federal portal for draft laws and regulations has published a Draft Order of RF President on Establishment of Marine Engineering Corporation. The document has been drafted by the Ministry of Industry and Trade of the Russian Federation. According to the explanatory note, the document foresees establishment of a joint stock company “Marine Engineering Corporation” (Saint-Petersburg) with 100% of federally owned shares. The contribution of the Russian Federation to the company’s authorized capital will include 100% minus 1 share of federally owned joint stock companies (Concerns): Concern “Central Scientific and Research Institute Elektropribor” (Saint-Petersburg), Concern “Morinformsystem-Agat” (Moscow), Concern “Scientific and Production Association Avrora” (Saint-Petersburg), Concern “Oceanpribor” (Saint-Petersburg) and RUB 100 million for creation of a integration of the above-mentioned organizations into a unified marine engineering system.

The new corporation is aimed at solving the problem of overlapping competences and products, integration of the concerns’ competences and enhancing of competitiveness through building up the scale of business and accumulation of investment resources.