USC puts off $1bn Primorsky dockyard, builds $1.5bn one | Volga, Industry, manufacturing MarchmontNews.com

Far East | Industry, manufacturing

USC puts off $1bn Primorsky dockyard, builds $1.5bn one

11 May '10
Of the two Primorsky regional shipbuilding projects widely touted last year as Russia’s two ‘superdockyards’ with foreign investment only one will break ground this year; S. Korea’s Daewoo is the foreign investor in the Bolshoi Kamen project, said Roman Trotsenko, president of the Russian partner in the consortium, United Shipbuilding Corporation (USC).

Marchmont reported both project plans in November 2009.

Based at a local factory, Zvezda, the future $1.5bn dockyard is expected to be completed by the end of next year, with the first ship commissioned in early 2012.

According to Mr. Trotsenko, the dockyard will build gas carriers, ice-class tankers, shelf exploration ships, as well as ocean-going LNG factories.

As the USC president emphasized, the fate of the other dockyard project announced last fall, the $1bn Chazhma Bay one with the expected participation of Sino-Singaporean Yantai Raffles, is presently in limbo. Before the Russian and foreign partners can move on, he said land tenure issues would have to be resolved as the land site for the prospective project hasn’t been officially ceded by the RF Ministry of Defense currently holding it. The Chazhma Bay project “has been put off indefinitely,” Mr. Trotsenko said.

Under original plans, the project was supposed to kick off in March 2010 and be completed within two years to build drilling platforms and equipment for the Shtokman and Yamal oil and gas projects.