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New joint venture was set to construct shipyard on Kotlin Island

New joint venture was set to construct shipyard on Kotlin Island 27.06.2011
Text: RusNavy.com
Photo: Novoadmiralteyskaya Verf layout.
To construct the largest shipbuilding complex on Kotlin Island (Kronshtadt, St. Petersburg), JSC United Shipbuilding Corporation (USC) on June 16 signed an agreement with South Korean STX to establish joint venture Novoadmiralteyskaya Verf.

Reportedly, share of South Korean party in the project is 25%, overall cost is evaluated as $720 mln.

As was earlier reported, on June 17 at the St. Petersburg International Economic Forum an agreement was signed between the city administration, USC, and Admiralteyskie Verfi shipyard providing transfer of shipbuilding capacities to new site. Construction of the new shipyard would take about 40 months.

Somewhat 3 ha lands will be cleared on Admiralteysky Island to start construction of Novo-Admiralteysky Bridge.

In total, transfer of Admiralteyskie Verfi capacities will cost RUR 3.5 bln. The city will compensate about RUR 1 bln; other RUR 2.5 bln will be taken from sale of the released area. It is planned to put the land plot for tender in the current year.

As was reported, the new shipyard would occupy about 250 ha with an access to deep channel. The yard is supposed to open new 6,500 work positions.

Novoadmiralteyskaya Verf will be capable to build ships with displacement up to 200,000 tons.

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