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Germany’s Nordic Yards set to build shipyard in Russia

February 20, 2015, 16:58 UTC+3 WISMAR
The shipyard may be located in the Far East or the Baltic region
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WISMAR /Germany/, February 20. /TASS/. The German group Nordic Yards, which has three shipyards in Germany, may build its own dockyard in Russia, Nordic Yards owner and head Vitaly Yusufov said on Friday.

"We’ll undoubtedly consider building our own site because the trend towards increasing local output [at Russian enterprises] is gaining momentum," he said, adding Nordic Yards was considering this option along with the option of cooperation with Russian shipyards.

"Now we are holding an analysis by the geography of the [possible shipyard] location - the Far East or the Baltic region," he said.

Nordic Yards earlier won a contract from Russia's Federal Agency for Sea and River Transport for the construction of two emergency and rescue ice-class vessels.

Nordic Yards also has a contract with the Baltic Shipyard on building the superstructure for the LK-25 diesel ice breaker. However, the Russian shipyard is delaying the contract implementation, making Nordic Yards shift the timeframe of the contract fulfillment.

The Nordic Yards head also said he did not rule out establishing a joint venture with a Russian shipyard and buying a stake in it, "if we proceed with long-term cooperation in building fishing vessels, for example."

"This is a substantial sum worth of orders," he added.

Nordic Yards has not yet applied with such a proposal to Russia’s United Shipbuilding Corporation, he said.

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