Baltiysky Zavod signed five-year investment agreement with Saint-Petersburg
The parties agreed on cooperation in modernization and development of the shipyard
In the framework of St. Petersburg International Economic Forum (SPIEF-2023), Baltiysky Zavod JSC (a shipyard of United Shipbuilding Corporation, USC) and Saint-Petersburg Committee for Industrial Policy, Innovations and Trade have signed a five-year agreement on mutually beneficial cooperation, according to the company’s statement in Telegram.
The document will contribute to the development of technologies and to attraction of investments. The parties agreed on cooperation in modernization and development of the shipyard’s production facilities in order to enhance the quality of products and improve labor productivity.
Saint-Petersburg, Russia based Baltiysky Zavod shipyard (Baltic Shipyard) was established in 1856 and today is a 100% subsidiary of the state-owned United Shipbuilding Corporation (USC). The shipyard specializes in the construction of Rank 1 surface crafts, ice class vessels with nuclear and diesel-electric propulsion, of nuclear floating energy units and floating distilling plants. Baltic Shipyard has built over 600 ships and vessels. The shipyard employs more than 6,000 people.
