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Russia welcomes participation of foreign investors in Zvezda shipyard project — minister

The new site is expected to become operational in 2018 and to start producing marine facilities and equipment for exploration, production and transportation of hydrocarbons

© ITAR-TASS/Yuri Smityuk

ST.PETERSBURG, May 18. /TASS/. Russia’s Industry and Trade Ministry would only welcome the interest of foreign investors in the project of Zvezda shipyard, Industry and Trade Minister Denis Manturov told reporters.

He said that his ministry has discussed with representatives of South Korea, China and European countries their possible participation in construction of the Zvezda shipyard.

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Russia's Rosneft will invest $2 bln into Zvezda Shipyard — CEO

"The issue was discussed with South Korea, China, European countries but as of today there have not been any concrete proposals yet," Manturov said.

The Zvezda shipyard has been under construction in the town of Bolshoy Kamen in the south of the Primorye region, Russia’s Far East. The construction began in 2009.

Initially the project was launched and carried out by the United Shipbuilding Corporation (USC) and South Korea’s Daewoo Shipbuilding & Marine Engineering Co. (DSME, a division of Daewoo)

In 2012, DSME withdrew from the project and USC gave the package of 75% minus two shares to the consortium that was jointly set up by Rosneft and Gazprombank.

Earlier head of Rosneft Igor Sechin said that the total investment in the shipyard would amount to 145 bln rubles (over $2 bln).

Zvezda is primarily focused on Russian oil and gas and shipping companies. The new site is expected to become operational in 2018 and to start producing marine facilities and equipment for exploration, production and transportation of hydrocarbons.

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