Civil shipbuilding program to 2027 estimated at 231 bln rubles, of which NWF to provide 136 bln rubles - Manturov

MOSCOW. Jan 11 (Interfax) - Russia's civil shipbuilding program to 2027 is estimated at 231 billion rubles, of which the National Wealth Fund will provide 136 billion rubles and state Transport Leasing Company 85 billion rubles, which it will raise on the market, said Denis Manturov, deputy prime minister and Russia's industry and trade minister.

"Altogether, a civilian fleet renewal program has been drawn up for 231 billion rubles. In addition to 10 billion rubles budgeted for subsidies, it involves allocating 136 billion rubles from the NWF. STLC will raise another 85 billion from the market," he said during a meeting between President Vladimir Putin and cabinet ministers. "Such a combined arrangement will provide operators with a cost-effective leasing model," he said.

Manturov proposed a preferential water transport leasing program along similar lines to the civil aviation leasing support program. "That is, loans from the NWF at 1.5% per annum and easing of profitability requirements," he said.