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Russia's defense industry

Sevmash investment program up to 2033 being agreed

The program includes technical and innovative development with financing both from the state budget and own funds

MOSCOW, December 21. /TASS/. The draft investment program of Sevmash Shipyard up to 2033 is being agreed, shipyard CEO Mikhail Budnichenko told TASS.

"The modernization of capacities will continue. At present, the draft project of Sevmash investment program up to 2033 is being agreed. It includes technical and innovative development with financing both from the state budget and own funds. At the same time, work is ongoing with the Industry and Trade Ministry to draft a new program for the development of the military-industrial complex, in particular, a technological audit of events requested by Sevmash is being held," he said.

An electromagnetic treatment system with a new element base is prepared for tests. The reconstruction of the shallow-water embankment has been completed. It will have more berths for vessels engaged in trials of fourth-generation nuclear submarines. The reconstruction was financed by the shipyard from its own funds.

"Sevmash has been going through a technological revolution in the last decade. The technological development of the enterprises did not stop for a minute. It goes according to long-term programs also with state participation and by annual plans that cover all workshops and units of the plant. The planned events are implemented in a full volume despite a number of outside restrictions," Budnichenko said.

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Russian defense industry

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