VEB to loan $35m to $710m Zvezda-DSME shipyard | Volga, Industry, manufacturing

Far East | Industry, manufacturing | Finance, business

VEB to loan $35m to $710m Zvezda-DSME shipyard

5 Mar '11
State corporation Vnesheconombank intends to loan $35m on project Zvezda-DSME for construction of a shipyard in Bolshoy Kamen bay in Primorsky region, news agency RIA Novosti reports.

The project is carried out by the United Shipbuilding Corporation in partnership with Korean company Daewoo Shipbuilding Marine Engineering (DSME).

Total investment into the project is estimated at $710m.

Construction of the shipyard is scheduled to be completed in late 2012.