United Shipbuilding Corporation conducts audit of previously signed contracts
This in-house work will not affect the deadlines for the execution of orders
By the decision and under personal supervision of Andrey Puchkov, head of the United Shipbuilding Corporation (USC), some USC companies are undergoing the assessment of profitability of the concluded contracts. According to the press service of USC, a significant part of the orders has already been restarted, the analysis of some contracts continues. Conclusions on the economic feasibility of contracts concluded by USC will be based on the results of financial audit.
USC is in continuous contact with its customers. According to USC, this in-house work will not affect the deadlines for the execution of orders.
At the meeting with Andrey Kostin, President and Chairman of VTB Bank Management Board, held on 10 August 2023, Russian President Vladimir Putin said he had supported the proposal of RF Government to transfer state-owned stake in the United Shipbuilding Corporation to VTB for 5 years.
When speaking at the Eastern Economic Forum (EEF 2023), Victor Yevtukhov, State Secretary – Deputy Minister of Industry and Trade of the Russian Federation, said that many shipyards of USC are in a difficult financial situation which behind the transfer of the USC stake to VTB. Underway is the audit of shipyards. Its findings will let make decisions on which shipyards are to be supported first.
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 the bulk 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.
