More than 1 trillion rubles are needed by the United Shipbuilding Corporation (USC) to complete the construction of ships. This was stated by USC CEO Andrey Puchkov.
The main reason for the shortage of funds is that the cost of ship production is higher than the contract prices. Puchkov said that USC is negotiating with clients and some of them are changing the price. In addition, the corporation is seeking help from the state.
Earlier, VTB head Andrey Kostin stated that a huge financial hole had formed in the USC budget. The corporation was transferred to VTB Bank for five years in October 2023 by decision of President Vladimir Putin. Sources in the Ministry of Industry and Trade explained that the meaning of this decision is to rehabilitate the unprofitable assets of the state corporation. In addition, VTB should finance USC plants for their rehabilitation.
The USC includes more than 50 design bureaus, machine-building, ship repair and shipbuilding plants, as well as research centers. The number of personnel is 105,000 people.
Read more on the topic:
VTB Head Andrey Kostin Speaks About the Shortage of Funds in USC
USC Intends to Increase the Production of Civil Vessels by 44%