President Vladimir Putin has signed a decree on the formation of a new company formed from Sovcomflot and Novoship, Interfax reports.
"As you know, I have signed a decree to form a new company on the basis of the existing Sovcomflot and Novoship," Putin said at a meeting with Sovcomflot General Director Sergei Frank.
The new shipping company that will be created from Russia's Sovcomflot and Novoship is being entered on the list of strategic enterprises, according to a presidential decree on the new company's formation, signed on Wednesday.