Russian government to invest RUB2 billion in upgrade of local shipyard

The Russian federal government will invest RUB2 billion (US$22 million) for the modernisation of local shipbuilder Onega Shipbuilding and Ship Repair Plant in Karelia.

The upgrade works will entail the construction of new facilities and the replacement of some of the yard’s existing industrial equipment. This will enhance the yard’s capacity for manufacturing civilian vessels and for maintenance and repair of tugs, pilot boats, dredgers, and bunkering ships.

The government expects the modernisation of the yard will contribute to the improvement of maritime traffic along the Northern Sea Route, which serves as a vital export corridor.

One Shipbuilding and Ship Repair Plant is also presently involved in the manufacture of fishing vessels, primarily for operators in the Russian Far East.