Construction begins on 120 civil vessels at United Shipbuilding Corp shipyards - CEO

MOSCOW. Jan 29 (Interfax) - The shipyards of the United Shipbuilding Corporation (USC) are constructing 120 vessels as part of civil shipbuilding, USC CEO Andrei Puchkov said at a meeting with Russian Prime Minister Mikhail Mishustin.

"In terms of civilian orders, our shipyards are building about 120 different types of vessels. With the support of the Russian government, we have restarted completing a number of orders, for which there were complicated nuances and some delays at the previous stages. I believe that we have currently entered a serious rhythm," Puchkov said.

He said that USC has successfully ramped up the pace to construct fishing vessels with the support of the Agriculture Ministry and the Industry and Trade Ministry.

"We are currently focusing on developing shipbuilding capacities primarily in two regions, St. Petersburg and the Far East, as part of the operations to replete Russia with a merchant marine fleet," Puchkov said.

United Shipbuilding Corporation was established in 2007 upon presidential decree, and 100% of its shares are federally owned. USC has been under the trust management of VTB Bank since August 2023.