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DSME helps out Russian shipbuilding sector

DSME helps out Russian shipbuilding sector

Seoul: Russia's United Industrial Corporation (UIC) and South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) have signed a memorandum on interaction in shipbuilding projects, local media in St Petersburg report.

The document envisages cooperation, coordination of strategies and joint actions in shipbuilding programmes of major importance for UIC and DSME, in particular the construction of a modern shipyard in Russia's northwest capable of building seagoing super vessels with a deadweight of up to 300,000 metric tons and an annual deadweight of up to 500,000 metric tons.

One of their top priority goals is the development of Russian shipbuilding in light of the country's plans to develop the continental shelf.

The United Industrial Corporation manages assets worth over $13bn in engineering and shipbuilding (Severnaya Verf and Baltiysky Zavod shipyards and the Iceberg Design Bureau), the financial sector (the International Industrial Bank, or Mezhprombank, group), aircraft building (Sukhoi company), and real estate.  [8/5/08]