Russian Government to Decide on Baltiysky Zavod Soon, Deputy Prime Minister Says


In the nearest days Russian Government would probably make a decision on Baltiysky Zavod shipyard which assets are pledged to Russia’s Central Bank to cover credits, said Deputy Prime Minister Dmitry Kozak.

Baltiysky Zavod is a member of JSC United Industrial Corporation (UIC) headed by ex-senator Sergei Pugachev. The shipyard’s assets were pledged to the Central Bank to secure credits granted to Mezhprombank, also UIC affiliate bankrupted last year.

“I think we’ll come up with a decision on Baltiysky Zavod in the nearest days. We have own strategies of how to work with this company“, said Kozak on Sept 29 addressing a press conference.

JSC United Shipbuilding Corporation (USC) is holding negotiations with Central Bank with a view to take Baltiysky Zavod under temporal administration and to stabilize the company’s situation. The head of USC Roman Trotsenko said on Aug 29 he was expecting the Central Bank would decide to transfer the shipyard’s assets under management of USC in the first decade of October.

JSC Baltiysky Zavod shipyard is specialized in construction of nuclear-powered and diesel icebreakers and ice-class ships, large-tonnage cargo vessels and warships; it manufactures wide range of engineering products and power equipment as well as delivers nonferrous and steel castings.

Source: rusnavy, October 04, 2011