The program of financial restructuring is in progress at the shipbuilding yard “Lotos”

Shipbuilding Yard Lotos JSC signed contract for construction of 3 non-propelled pontoons for APK Shipping (Russia) – first-rate producer and transporter of oil-producing infrastructure. The vessels will be constructed in accordance with leasing scheme with participation of Loznak-Leasing as a lessor.

Delivery to the Customer is planned before the end of 2012. The contract cost is over 300 mln.RUR. As explained by Sergey Terskov, CEO of Shipbuilding Yard Lotos, “execution of this project at Lotos site is a part of financial restructuring program developed by shareholders and management of the company. During next 2-3 years we are ready to secure maximal load of the yard on the base of formed stock of orders”.

Reference: Shipbuilding Yard Lotos JSC is a company operated in terms of public private partnership. Main shareholders: United Shipbuilding Corporation JSC, Caspian Energy Group JSC, Government of Astrakhan region.

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