More than 300 ships to be built by 2032 under subsidized leasing programmes

Photo by IAA PortNews

Posted on September 22, 2021

RUB 108 billion to be obtained from the National Wealth Fund

The Ministry of Industry and Trade of the Russian Federation plans to build over 300 ships by 2032 under subsidized leasing programmes, IAA PortNews correspondent cites Oleg Ryazantsev, Deputy Minister of Industry and Trade, as saying at NEVA 2021, the International Maritime Exhibition and Conference for Commercial Shipping, Shipbuilding, Offshore Energy, Ports, Inland Waterways and Oceanography, being held in Saint-Petersburg.

“The key factor is subsidized leasing. Without it, we cannot implement any programme. It is the most viable instrument which has proved itself … Today, together with STLC, colleagues from the Ministry of Finance and the Ministry of Economic Development, we follow the presidential instructions to obtain RUB 108 billion from the National Wealth Fund. It will be a large-scale programme through 2030s. Meanwhile, we understand that with the funds obtained from NWF, STLC will be able to raise the same amount from the debt capital market, plus RUB 40 billion under the state shipbuilding development programme. In total, our estimates show that those leasing based resources will let us build more than 300 ships by 2032”, said the official.

“Thanks to STLC, we have examples when STLC offers favorable leasing for projects before they are financed or subsidized by the budget. So they trust in the federal government and the resources come next year with the construction already underway. That is the case of shipbuilding projects being implemented by Sredne-Nevsky Shipyard for Krasnoyarsk”, added Oleg Ryazantsev.

STLC head Yevgeny Ditrikh confirmed in his turn the company’s readiness to take the first risks under projects that have not yet obtained state support.


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