Putin Plans $700M Shipyards for Far East

Monday, January 04, 2010

According to a Jan. 4 report from the Moscow Times, Prime Minister Vladimir Putin announced plans for the state-run United Shipbuilding Corporation to build two major infrastructure projects with foreign partners, with investments of a combined $700m. Putin also said the government had created a $5b plan for the purchase of civilian ships and related technology in the Far East through 2020. The first infrastructure project, with Singapore’s Yantai Raffles Shipyard, will create a new shipyard to build drilling platforms in Chazhma Bay. The second is with South Korea’s Daewoo to construct a dry dock at the existing Zvezda factory in the nearby town of Bolshoi Kamen to make tankers, including for liquefied natural gas.

(Source: The Moscow Times)

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