About 50% of it is investments into hard to pay off facilities
Total scope of investments needed by United Shipbuilding Corporation by 2033 is estimated at some RUB 350 billion. About 50% of it is investments into hard to pay off facilities such as hydraulic engineering structures, USC head Aleksey Rakhmanov said in his interview with Expert.
“Here we count on some instrument of additional state support while the rest, particularly equipment, systems and mechanisms for cargo movement, etc. can easily pay off with the loans from IDF (Industry Development Fund - Ed.). We have already made calculations,” he said adding that “it would be right to ensure a capital grant from the government so that all current and accumulated problems could be solved”.
According to Aleksey Rakhmanov, the programme aimed at supporting shipbuilding and USC should be implemented together with the preferential leasing “Which should act as a revolver mechanism through a contribution to the charter capital of leasing companies”. He reminded that leasing programmes cover ships of sea/river class and some cruise ships but do not cover major transport solutions for shipment of hydrocarbons or dry bulk cargo”.
United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises about 40 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates the bulk of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide.