In news from Sevastopol, 1.5 billion rubles has been allocated for the reconstruction of the Sevmorzavod shipyard for 2016. The Marine Plant (Sevmorzavod JSC) being integrated into United Shipbuilding Corporation (OJSC) will be part of a 49 year lease agreement.
The funds are to be allocated for upgrading of Sevmorzavod under a Federal Targeted Program covering the timeframe 2016-2019. The shipyard, which is capable of producing both civilian and military vessels, is one of the largest ship repair/shipbuilding facilities on the B lack Sea. Founded back in 1783, the yard has two dry docks, along with an array of ship repair and machining plants, with electrical and hull workshops to go along. The shipyard, once owned by Ukraine President Petro Poroshenko, now belongs to OJSC.
OJSC United Shipbuilding Corporation designs and builds military and civil ships in the Russian Federation. The company also develops, designs, manufactures, supplies, maintains, upgrades, repairs, and recycles military and civilian shipping, and the facilities associated with these activities. The company maintains 58 enterprises in 14 regions of Russia. OJSC noted projects include the Triton midget submarine project (feature image), the MULTI-PURPOSE FRIGATE - PROJECT 22356, and many others.