Medvedev to Bolster Russian Shipbuilding Industry

zoomRussian Prime Minister Dmitry Medvedev Russian Prime Minister Dmitry Medvedev has tasked the countrys ministers with developing a strategy to support the countrys shipbuilders, the Russian Government said in a release.  The aim of the strategy is to attract more orders at domestic shipyards, both from the offshore sector and newbuild construction. In addition, the strategy should include incentive measures for shipping companies targeting fleet modernization and placing of orders with local shipyards. In cooperation with United Shipbuilding Corp., the ministries will assess the current backlog of orders and capabilities of shipbuilding companies, which can be further placed with the domestic shipyards until 2019. As informed, the Ministry of Industry in conjunction with Russian oil & gas giants Rosneft, LUKOIL, Gazprom, Novatek and other stakeholders should consider by May 27, 2015 the possibility of placing orders for offshore marine equipment and vessels with Far Eastern Center of Shipbuilding and Ship Repair. In addition, competent ministries have been entrusted with finalizing a feasibility assessment of Zvezda shipbuilding complex investment project in the Far East which should be accompanied with proposals on its funding from the National Welfare Fund.