Novikombank to provide USC and Yantar shipyard with a loan worth RUB 7.6 billion
The resources will be used for construction of civil vessels and warships
Novikombank, basic bank of Rostec intensifies its support of shipbuilding projects. The bank has provided a loan of RUB 7.6 billion to United Shipbuilding Corporation (USC) and Baltic Shipyard ‘Yantar’. According to the bank’s press center the value of the loan agreement with USC is RUB 2 billion, with Yantar – RUB 5.6 billion. The resources will be used for construction of civil vessels and warships.
The bank has been in cooperation with USC from 2012. Thanks to efficient combination of bank loans and state support measures USC obtains resources for implementation of its obligations in time and with high quality.
In the framework of its cooperation with the shipbuilding industry Novikombank provides finances for construction of icebreakers, special civil ships, maritime equipment for offshore projects and manufacture of export products.
Novikombank is among 20 largest banks of Russia. Its priority is to support domestic industries.
Kaliningrad-based Baltic Shipbuilding Plant “Yantar” (Yantar Shipyard) was founded on July 8, 1945 on the basis of a Koenigsberg unit of German’s Schichau Werft. Yantar Shipyard specializes in building and repair of warships and civil boats. Throughout the years the Shipyard has built 160 warships and more than 500 merchant vessels. The Russian Government holds majority stake in the shipbuilding firm through Western Center of Shipbuilding, a subsidiary of state-owned United Shipbuilding Corporation.
United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises about 40 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates about 80% of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide.
