08:49 GMT +325 November 2017

    Admiralty Shipyards to ink submarine export contract in June

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    ST. PETERSBURG, May 17 (RIA Novosti) - Admiralty Shipyards, a St. Petersburg-based company, is planning to sign a foreign contract on the construction of two submarines next month, the general director said Wednesday.

    "We hope to sign a contract on building two submarines with a foreign client in June," Vladimir Alexandrov said, adding that the shipyard was conducting negotiations on submarine exports with a number of foreign clients, including India, one of the biggest importers of Russian military equipment.

    Admiralty Shipyards is a state-owned company that specializes in the design, production and modernization of civil and naval surface ships and submarines.

    Since 1910, the company has constructed 300 submarines (including 41 nuclear submarines) and 68 deep-diving and underwater vehicles. It has a 15% share of the global submarine sales market. It has built Kilo-class submarines for India, China and Iran.

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