Zvezda and Samsung Heavy Industries to establish a joint venture
LLC Shipbuilding Complex Zvezda and Samsung Heavy Industries Co. Ltd. (the Republic of Korea) signed an agreement in the framework of the IV Eastern Economic Forum setting the conditions for establishment of a joint venture in order to organize an efficient project management system for construction of shuttle tankers at Zvezda Shipbuilding Complex with a deadweight ranging from 42 to 120 thousand tons.
In accordance with the conditions of the agreement the joint venture will be established by the year end.
The agreement terms include exchange of experience in designing and construction of shuttle tankers. Samsung Heavy Industries will provide technical specifications as well as the basic and detailed design of the vessels to Zvezda and will assist with development of detailed engineering drawings jointly with Lazurit Central Design Bureau.
Also, in line with the agreement terms the Korean Company will provide the technical support for planning, project management and quality assurance during construction and assembly, procurement of materials and equipment and ensure the engineering support of construction of shuttle tankers at Zvezda.
Except this, Samsung Heavy Industries will train the Russian personnel at their shipyard and organize shipyard internship at similar projects.