22 Feb 2024 11:26

Khabarovsk PDA resident to start building vessels from composite materials by 2027

KHABAROVSK. Feb 22 (Interfax) - A resident of the Khabarovsk priority development area (PDA) has begun implementing a project to build a shipyard to manufacture vessels from composite materials, the regional government's press service reported.

"The shipyard will build ships, recreational and sport vessels and boats - at least six commercial and 12 private vessels annually," the press release said.

The Far East and Arctic Development Corporation (FEDC) told Interfax that this refers to a company called FPI LLC.

The project will cost more than 90 million rubles, the regional government said.

"About 10 million rubles of our own funds have already been invested in the implementation of this investment project. The development of design documentation and preparatory work on the construction site will be completed by the end of March. Construction will begin closer to the end of the year," company CEO Vitaly Selyukov was quoted as saying in the statement.

The regional Industry and Trade Ministry said the construction of the shipyard to build small vessels from composite materials is a new direction for the region. The regional Industrial Development Fund is prepared to provide support to the company, which is now preparing the paperwork to obtain a joint loan.

The shipyard is expected to open and produce its first vessel at the end of 2026 and reach planned capacity in the first quarter of 2027.

FPI LLC is registered in the village of Rakitnoye, Khabarovsk Territory, the Unified State Register of Legal Entities showed. The company specializes in building ships, vessels and floating structures. FPI is owned by Bakht Mavlanov, who also owns three tourism companies in Russia's Far East: Far East Expeditions, FE Travel Center and Cruise Center.