The technical upgrade of the "Severnaya Verf" shipyard (St. Petersburg, part of the United Shipbuilding Corporation) will begin in 2027, with a planned investment volume of at least 350 billion rubles, stated Russian Minister of Industry and Trade Anton Alikhanov.
VTB will provide funding for the modernization of the enterprise, Alikhanov added. The renewal of production capacities will allow for the assembly of up to 11 medium- and large-tonnage vessels per year, he added.
"Severnaya Verf" will also build Aframax-type tankers (vessels with a deadweight of 80 to 120 thousand tons and engine power of 13 to 17 thousand kW), gas carriers, container ships, bulk carriers, and universal dry cargo vessels. Currently, St. Petersburg shipbuilders are working on vessels of projects 22350, PV300VD, and MT1112XL.
In October 2023, President Vladimir Putin approved the transfer of 100% of OSK shares to VTB for a period of 5 years under trust management. The bank will use part of its dividends to upgrade "Severnaya Verf".
In the summer of 2025, the government of St. Petersburg and OSK signed a cooperation agreement providing for the modernization of "Severnaya Verf". Within the framework of this agreement, a feasibility study for the project was to be developed by spring 2026.
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