Written by Perter Clarkson
Thursday, 02 July 2009 12:56
Russia's United Shipbuilding Corporation (USC) is investing $1bn in the construction of a new shipyard in Kronshtadt, said Valery Venkov, head of USC's advanced development department.
The site on Kotlin Island is 15 miles from St Petersburg.
USC is a government holding company set up to unite shipyards in western, northern and eastern Russia.
It has three subsidiaries, Western Shipbuilding Centre in St Petersburg, Northern Shipbuilding and Maintenance Centre in Severodvinsk and Far Eastern Shipbuilding and Maintenance Centre in Vladivostok.
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