New shipyard worth USD 2 billion to be built near Saint Petersburg

December 15, 2011 16:05

Government of Saint Petersburg has approved a project on construction of a ship building complex in the island of Kotlin. The shipyard is to be built by 2019, reports

In the year 2012 the project's development will be completed and the construction process will take off in 2013. The construction stage will take 6 years. First, the land site of 50ha will be prepared, after that the construction works will begin. According to the schedule, the yard is to be commissioned in 2019. It will be a universal yard to build military and civic vessels, besides it will build vessels for exploration of the arctic shelf.

For the small town of Kronstadt the project will become economically and socially vital and extremely important. At the very first stage it will create 1,500 new jobs with the total workforce to grow to 6,500 people when the yard starts working at full swing. Total investments into the project are estimated at ca.RUR55.26 billion (ca.USD1.8 billion).

As per mid-December 2011 the project makers have carried out a feasibility study. At the same time, there are some important issues yet to be solved. In particular, a number of amendments have to be introduced into the current legislation, namely into town planning legislation. Besides, the property issue is pending solution as the yard's territory is now occupied.

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