18:43 GMT04 August 2020
Listen Live
    Business
    Get short URL
    0 136
    Subscribe

    The German shipbuilder Nordic Yards will try to construct its own facility in Russia considering two different locations– the Far East and the Baltic Sea.

    MOSCOW (Sputnik) – The German shipbuilder Nordic Yards is considering constructing shipyards in Russia, in particular in the Far East, the company's president Vitaly Yusufov told reporters on Friday.

    "Of course, we will consider the possibility of constructing our own facility, because in [Russia] there is a certain trend of localization of production. In order for us to participate in [government] tenders, we have to prove that we can manufacture in Russia. We will work not only in partnership, but also try to construct our own facility," Yusufov said.

    Yusufov claimed that he was considering two different locations– the Far East and the Baltic Sea.

    Over the last decade Nordic Yards has been implementing shipbuilding projects for the Arctic in partnership with Russian company MMC Norilsk Nickel. The company will continue to foster this partnership, but it also intends to establish a joint enterprise with the Russian United Shipbuilding Corporation (OSC).

    Nordic Yards is a leading producer of highly specialized ships including ice-going ships and icebreakers. It operates three shipyards in Germany – in Wismar, Rostock and Stralsund. Russian businessman Vitaly Yusufov became company president in 2009.

    Related:

    Capacity of Russian Arctic Ports to Grow by 60% Over Next 15 Years
    Russia Plans $123.3 Million in Upgrades for Arctic Military Base
    US Navy Eyes ‘Security Implications’ of Shrinking Arctic Ice
    Russia's Rosneft to Invest $500Bln in Arctic Exploration Over 25 Years
    Tags:
    shipbuilding, Nordic Yards, Far East, Germany, Russia
    Community standardsDiscussion