Rosneft and VTB have started negotiations on the entry of the Zvezda shipbuilding complex into the United Shipbuilding Corporation (USC). The initiative to consolidate shipbuilding assets in the Far East to improve the efficiency of the industry was supported by the President of the Russian Federation, the parties said in a statement.
The Zvezda shipbuilding complex has now reached the design level and has all the necessary modern technologies for the construction of large-tonnage civil vessels, the report says.
The construction of the Zvezda shipbuilding complex in the city of Bolshoy Kamen in Primorsky Krai began on behalf of the President of the Russian Federation in 2009. In 2013, a consortium of private investors led by Rosneft, which also became the anchor customer of the project, was involved in the creation of a new shipyard. This decision was made taking into account the fact that the Chief Executive Officer of PJSC NK Rosneft has practical experience in creating projects of this scale.
SSK Zvezda specializes in the construction of all types of large-tonnage civilian vessels, icebreakers and marine equipment. In total, 12 vessels have been launched at the shipyard, and more than 20 more vessels out of more than 60 that are in the company’s order portfolio are being actively built. The total deadweight of orders exceeds 3 million tons.
PJSC NK Rosneft is a vertically integrated company, a leader in the global energy industry and one of the largest publicly traded oil and gas companies in the world. Rosneft’s net profit for the first quarter of 2024 under IFRS left 486 billion rubles, an increase of 92.8% compared to a year earlier. Including net profit attributable to shareholders of PJSC NK Rosneft increased to RUB 399 billion from RUB 191 billion. Sales revenue and income from associated organizations and joint ventures increased by 1.7% to 2.59 trillion rubles from 2.55 trillion rubles, EBITDA increased by 42.4% to 857 billion rubles from 602 billion rubles.
VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate within the framework of a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc in Singapore and Dubai.
JSC United Shipbuilding Corporation was established on March 21, 2007 in accordance with the decree of the President of Russia Vladimir Putin. The holding includes more than 40 design bureaus and specialized research centers, shipyards, ship repair and machine-building enterprises, on the basis of which most of the domestic shipbuilding complex is consolidated.
100% of USC shares are federally owned. By decree of the President of the Russian Federation V. Putin dated October 9, 2023, they were transferred to the trust management of VTB.