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Russia’s United Shipbuilding Corporation to double output by 2018

June 19, 2014, 18:29 UTC+3 MOSCOW
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MOSCOW, June 19. /ITAR-TASS/. Russia’s state owned United Shipbuilding Corporation (USC) plans to double its output to 380 billion rubles ($11 billion) by 2018 from 189 billion rubles ($5.5 billion) in 2013, Industry and Trade Minister Denis Manturov said on Thursday presenting new CEO Alexei Rakhmanov to the company.

“USC has to more than double its stake on the world’s civil shipbuilding market and occupy a leading position on the world’s naval construction market,” Manturov said.

Russia is the world’s second largest naval constructor with a 12% share after the US The government wants to boost the share to 14% by 2018.

The ministry’s sea shelf equipment order can exceed 6.5 trillion rubles by 2030 given the plans to develop the Northern Sea Route and the shelf, the minister said.

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