Leningrad Region prepared to provide site for new USC shipyard in Russian northwest - regional authorities

ST. PETERSBURG. Nov 27 (Interfax) - The Leningrad Region is ready to host a new United Shipbuilding Corporation (USC) shipyard, the press service of the Governor and Government of the Leningrad Region said citing Dmitry Yalov, Deputy head of the regional government.

"The Leningrad region welcomes the intention of USC to build a new shipyard in the northwest region and is ready to work together with USC to select site options," Yalov saw cited as saying in the statement.

As reported, on Monday, VTB CEO Andrey Kostin, Chairman of the USC board, said at a meeting with Russian President Vladimir Putin that the Russian shipbuilding industry requires serious modernization to meet the high demand for civil shipbuilding orders. As part of this modernization, Kostin suggested building two shipyards - one "in the Northwestern region, somewhere near St. Petersburg, in the Leningrad Region," and the second one in the Far East.

As the press service of the Governor and Government of the Leningrad Region reminded, the United Shipbuilding Corporation includes the Vyborg Shipyard located in the region.

Putin signed a decree on the transfer of 100% of the federally owned shares of the United Shipbuilding Corporation (USC) to trust management of VTB for a period of five years in early October 2023.

The relevant decision was announced by the Russian president in August 2023. At the end of August, Kostin headed up the board of directors of the United Shipbuilding Corporation, while former VTB first deputy head Andrei Puchkov was appointed director general of USC.

USC was established by presidential decree in 2007.