Subsidies for introduction of domestically produced ship equipment to total RUB 15 billion in 2023‒2024
The Ministry of Industry and Trade of the Russian Federation foresees the allocation of RUB 36 billion as state support of civil shipbuilding in 2023-2025, the Ministry said in response to IAA PortNews’ request.
RUB 15 billion are foreseen as subsidies for implementation of comprehensive projects on development, creation and launching of serial production of ship equipment in 2023‒2024.
The Ministry of Industry and Trade of the Russian Federation is currently implementing a package of measures to support the construction of civil ships. Among them are subsidies to partially cover interest rates on loans, leasing payments and installment payments for acquisition of civil ships; subsidies to partially cover expenses for acquisition (construction) of new civil ships in return for scrapped ships; subsidies to partially cover expenses for construction of large ship, fishing ships and crab catchers at the shipyards of the Far East Federal District; preferential leasing programme.
Following the meeting of the Presidential Council for Strategic Development and National Projects held on 15 December 2022, Russian President Vladimir Putin gave instructions to the Government to ensure co-financing of shipbuilding projects involving the National Wealth Fund (NWF) by 2027. The process of co-financing was to begin before 31 March 2023.
In February 2023, RF Government prepared passports of investment projects for modernization of air and water transport. RUB 136 billion will be allocated for the construction of sea and river going ships between 2023 and 2027. State Transport Leasing Company will then hand over the newbuildings to transport companies for up to 25 years. The rates for passenger and cruise ships will be set at 2.93%, for dredging and fishing ships – at 4.51%, for cargo ships and large ships — 7.6%. NWF will cover about 60% of the total cost.
Read more in Russian in IAA PortNews’ annual analytical report “Shipbuilding in Russia” >>>>