USC plans to close purchase of shares in Vyborg Shipbuilding Company in Q2, icebreaker contract to b signed in spring
HELSINKI. Jan 19 (Interfax) - OJSC United Shipbuilding Corporation (USC) plans to finish its purchase of a 79.3% stake of voting shares in OSJC Vyborg Shipbuilding Company in the second quarter of this year, USC president Roman Trotsenko told journalists in Helsinki in Thursday.
"We expect the decision for the board of directors but plan it [the purchase of shares] will be sometime in the second quarter of 2012," he said.
Trotsenko added that this share packet has been valued at 2.5 billion rubles while the whole facility should cost 3 billion rubles.
In addition, Trotsenko said that USC plans to sign a contract in the spring with Vyborg Shipbuilding Company for the development of a diesel icebreaker with 16 megawatts in power capacity.
"The icebreaker is valued at 3 billion rubles," he said.
"We expect the contract to be signed in two to three months from now. We are in commercial negotiations," he said.
Trotsenko said that the icebreaker will be built in cooperation: Vyborg Shipbuilding Company will manufacture the hull, Baltiisky Zavod - screws and floats, USC's joint venture with Wartsila - propulsion systems, engines and diesel-generators, USC's JV with Tranzas - bridge and navigation systems.
Assembly of the vessel will take placed at Arctech Helsinki Shipyard.
Vyborg Shipbuilding Company specializes in the construction of technical equipment for the development of offshore oil and gas fields, as well as vessels equipped with sea platforms.
United Shipbuilding Corporation was founded in June 2007. The corporation covers the full cycle of ship construction, from development and design to final delivery and servicing. The corporation is comprised of over 40 enterprises, including 13 construction bureaus and 21 shipbuilding plants. The corporation is 100% state owned.