USC head confirms information on potential transfer of a 51-pct stock of Baltiysky Zavod to Rosatom
Baltiysky Zavod is currently among companies not earning any net profit
Aleksey Rakhmanov, head of United Shipbuilding Corporation (USC), has confirmed information on potential transfer of a 51-pct stock of Baltiysky Zavod (a shipyard of USC) to State Atomic Energy Corporation Rosatom, according to an interview with Aleksey Rakhmanov published on USC website.
“Underway is the usual procedure of crating a data room following which Rosatom will begin discussing all the issues uploaded into this data room. Then a decision will be made on the scheme to follow under the deal,” he explained. According to Aleksey Rakhmanov, Baltiysky Zavod has entered the category of those not earning any net profit. “It is an awkward situation since no net profit is being earned under the contracts of Rosatom. That brings up questions to customers similar to those to the fishermen. From this point of view, I'm even glad to a certain extent. There will be a unique opportunity for both the customer and the manufacturer to stay aware of being in the same submarine,” he said.
When speaking about the impact of the deal on the activities of Baltiysky Zavod, USC head emphasized that Rosatom accounts for 90% of the shipyard’s load. Therefore, “the colleagues want that to be under control. On the other hand, USC understands that it will finally “benefit from a more efficient … and profitable asset”.
As IAA PortNews reported in the end of 2022, Baltiysky Zavod, Russia’s leader in construction of nuclear-powered icebreakers, which was under USC control for slightly over a decade, may step out beyond the range of USC interests and be partially controlled by State Atomic Energy Corporation Rosatom. In December 2022, Aleksey Rakhmanov said that investment of about RUB 6 billion into equipment and infrastructure of Baltiysky Zavod, production capacity of the shipyard can be increased by 50% .
Saint-Petersburg, Russia based Baltiysky Zavod shipyard (Baltic Shipyard) was established in 1856 and today is a 100% subsidiary of the state-owned United Shipbuilding Corporation (USC). The shipyard specializes in the construction of Rank 1 surface crafts, ice class vessels with nuclear and diesel-electric propulsion, of nuclear floating energy units and floating distilling plants. Baltic Shipyard has built over 600 ships and vessels. The shipyard employs more than 6,000 people.
Under the contract with FSUE Rosatomflot, Baltiysky Zavod is building three LK-60 60MW icebreakers of Project 22220 (Ural, Yakutia and Chukotka). The lead icebreaker Arktika and the first serial icebreaker Sibir have already been put into operation. Multipurpose nuclear-powered icebreakers of Project 22220 ships are the world’s largest and most powerful icebreaking ships. Icebreakers of 22220 design will form the basis of Russia’s civil icebreaking fleet in the near time.
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