Rosneft asks for 89 billion roubles from National Wealth Fund for “Zvezda” project

Rosneft has requested 89 billion roubles ($1.4 bln) for the Zvezda shipyard construction project from the National Wealth Fund (NWF). The sum makes up 50% of total value of the project, which is up to the rules of appropriation of funds to other projects, they stated at the press-service of Rosneft.  

Money is necessary for the establishment of ship-building and industrial cluster on the construction of vessels and marine facilities for the development of shelf deposits.

“The necessity of state support of the shipyard construction project “Zvezda” is due to the importance of the project and its significance for the country within the framework of the implementation of strategic objectives on import substitution of ship and other marine facilities manufacture, necessary for the development of Russian offshore projects. An implementation of the project will enable to create new industrial cluster in the Far East. It will have a significant multiplicative effect for a number of related industries,” runs the company’s statement.