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DSME signs on to modernise Russian yard

DSME signs on to modernise Russian yard

Moscow: South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering president Nam Sang-tae and Roman Trotsenko, president of 100% state-owned Russian United Shipbuilding Corporation signed an agreement  in Moscow yesterday to build a joint shipyard in Zvezda near Vladivostok, Primorsky Krai.

Having already inked a contract to modernize the Zvezda shipyard in November 2009, both shipbuilding giants plan to finalize establishing a joint company tentatively called  'Zvezda-DSME'  within this month.

The construction of the new shipyard is scheduled to be finished before the 24th APEC Summit to be held in Vladivostok in 2012.

The signing ceremony, held on Thursday, was also attended by South Korean ambassador to Russia Lee Yoon-ho, Russia's Deputy Prime Minister Igor Sechin (who is also the chairman of USC board of directors and the chairman of Rosneft), Primorsky Territory Governor Sergey Darkin, Sovcomflot president Sergey O.Frank and high ranking officials from Gasprom and Rosneft.

At present Zvezda shipyard is building and repairing only naval vessels on a yard site of 600,000 square meters.

Under the contract, DSME will construct a new state-of-the-art shipyard on an additional 1 million square meter site, equipped with dry dock, goliath crane, etc. for Zvezda-DSME to be able to build large commercial vessels and offshore plants.
DSME and Russia's Sovcomflot are teaming up to bid for ice breaking contracts for the Sakhalin-1 field.

If successful, two ships will be built at DSME's new shipyard venture in Zvezda.
Sakhalin-1 is Exxon Mobil's big gas and oil field in the far east of Russia.

The tender closes in September. The ships will cost $100m each, Sovcomflot boss Sergey Frank told reporters. [04/06/10]