Russia is currently engaged in discussions with China regarding the development of shipyards. The aim of these talks is to establish a collaborative effort between the two countries in order to enhance and expand their shipbuilding capabilities. By joining forces, Russia and China hope to leverage their respective expertise and resources to create state-of-the-art shipyards that can meet the growing demands of the global maritime industry. This partnership signifies a significant step forward in the ongoing collaboration between Russia and China, and it is expected to have a positive impact on both countries' economies as well as the overall development of the shipbuilding sector.
Russia is in talks with China to develop shipbuilding expertise across the world’s largest country.
Andrey Kostin, CEO of Russia’s VTB Bank, which has just taken over the running of United Shipbuilding Corporation (USC), has been in Beijing with president Vladimir Putin, attending China’s Belt and Road Forum.
Seeking Chinese Partners
Interviewed by Hong Kong’s South China Morning Post, Kostin said he was looking to scout out Chinese partners in finance and shipbuilding, possibly with the aim of building a new Russian shipyard with China.
Impact of War with Ukraine
In the wake of war with Ukraine, Russia’s shipbuilding capabilities have been curtailed with previous tie-ups with Korean yards ended and other international suppliers withdrawing from the country.
VTB's Takeover of USC
In August, state-owned VTB took over the running of financially troubled USC at the behest of Putin. USC is the country’s largest shipbuilder. It operates about 40 shipyards, design offices and repair yards across Russia, employing 95,000 staff.
-Source(splash247)
