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Sberbank, USC sign loan facility agreement for new nuclear submarines

April 10, 2014, 23:20 UTC+3 MOSCOW
1 pages in this article

MOSCOW, April 10, /ITAR-TASS/. Russia’s savings bank Sberbank and the United Shipbuilding Corporation (USC) signed a 16.7 billion rouble loan facility agreement for building a series of Borei class nuclear submarines under government defence contracts.

“Sberbank considers the transaction an important step to support defence enterprises in Russia,” Sberbank Senior Vice President Svetlana Sagaidak said on Thursday, April 10.

The submarines will be built by the Sevmash shipyard, which is part of the USC.

Borei-class submarines are designed by the St. Petersburg-based Naval Design Bureau Rubin. Each submarine can be armed with 12 ICBMs with MIRVs. They will also have an escape capsule for all crewmembers. A Borei-class submarine is 170 metres long and 13.5 metres wide, it can sink to a depth of 450 metres and has a crew of 17 sailors.

The Borei claims to be a state-of-the-art submarine, featuring characteristics superior to any submarine currently in service, such as the ability to cruise silently and be less detectable to sonar. Advances include a compact and integrated hydrodynamically efficient hull for reduced broadband noise and the first ever use of pump-jet propulsion on a Russian nuclear submarine.

The submarines will be armed with Bulava missiles. The Bulava carries the NATO reporting name SS-NX-30 and has been assigned the GRAU index 3M30. In international treaties, the common designation RSM-56 is used.

Borei class submarines are designed to serve as the basis of Russia's strategic nuclear capabilities for the decades to come.

The USC is a leading shipbuilding company in Russia. It incorporates more than 50 enterprises and organisations as well as leading design bureaus. It controls 80 percent of Russia’s shipbuilding industry.

Government defence contracts are awarded through the Federal Agency for the Supply of Weapons, Military and Special Equipment and Materiel. Last year, 1,376 defence contracts were signed to an amount of 380 billion roubles, more than double the value of contracts concluded in 2012 and five times the volumes contracted that year.

Government defence contracts for R&D, the procurement of weapons, military and special equipment, and repairs amounted to 1.3 trillion roubles, 1.4 times more than in 2012. Some 5.4 billion roubles were saved under defence contracts in 2013. Sixteen thousand pieces of weaponry and equipment were supplied to the Armed Forces and 4,000 pieces of hardware were repaired in 2013 under government defence contracts.

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