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Russian shipbuilding corporation to present industry strategy in March - April 2024

Russia will have a modern and efficient shipbuilding industry in five - seven years, Andrey Kostin noted

MOSCOW, November 27. /TASS/. The United Shipbuilding Corporation (100% managed by VTB Bank now) will present a draft shipbuilding industry development strategy to President Vladimir Putin in March - April 2024, VTB chief Andrey Kostin said at the meeting with the head of state.

"We are providing for all that [circumstances in the shipbuilding industry - TASS] in the sector development strategy that we will be ready to present to you sometime in March - April of the next year," Kostin said.

Russia will have a modern and efficient shipbuilding industry in five - seven years, he added.

The decision was made earlier to transfer 100% of USC, the wholly owned state run company, to VTB into the trust management for five years. Kostin was elected as the Board Chairman of the corporation.