Denis Manturov News

Russian President Vladimir Putin on Thursday asked the state-owned VTB bank to manage the state's 100% stake in United Shipbuilding Corporation (USC), Russia's largest shipbuilder, to solve financial problems at the firm.Putin's decision effectively transfers control of Russia's premier shipbuilding assets to Moscow-based VTB, which has been run by Andrei Kostin, one of Russia's most influential bankers, for the past 21 years.USC builds civilian vessels as well as nuclear submarines, aircraft carriers and other warships.

At the 21st World Petroleum Congress Rosneft, Ministry of Industry and Trade of the Russian Federation, Gazprom, NOVATEK, Gazprombank, Sovkomflot, United Shipbuilding Corporation signed a Joint Venture Agreement in relation to the implementation of vessel, drilling rig and marine equipment construction and design projects on the 16th of June. The document was signed in the presence of Vice-Premier Arkady Dvorkovich. It was signed by Rosneft CEO and Management Board Chairman Igor Sechin, Minister of Industry and Trade of the Russian Federation Denis Manturov, Gazprom Deputy Management Board Chairman Vitaly Markelov, NOVATEK Management Board Chairman Leonid Mikhelson…

The United Shipbuilding Corporation (USC), is under criticism from Russian President Vladimir Putin for delays in delivery of several warships for the Russian Navy, RIA Novosti reported. In his complaint to USC officials, Putin cited problems with efficiency and quality on a number of projects, particularly regarding the assembly and delivery of nuclear submarines and surface ships. Putin ordered the Russian shipbuilders quicken construction without sacrificing production quality, demanding a report highlighting measures of improvement be submitted by October 15. RIA Novosti reported that after the meeting, Russian Industry and Trade Minister Denis Manturov said that the USC had fallen behind schedule on approximately 30 percent of its contracts with the Defense Ministry…