OREANDA-NEWS. September 20, 2011. Russian Government granted Russian shipbuilding firm Severnaya Verf state guarantees for tens of billions of rubles for execution of defense contracts, the shipyard press office said. The exact amount of state guarantees was not disclosed.

According the government’s order signed by Russian Prime Minister Vladimir Putin the state guarantees are granted for the period until 2015.

This means for Severnaya Verf steady funding and newbuilds contracts for the Russian Navy, said the shipyard’s General Director Andrei Fomichev.

According to the State armament program until 2020, the shipbuilding firm is to deliver until 2018 to the customer - the Ministry of Defense of Russia, a series of six corvettes of 23185 and 23180 projects (an updated 23180 project) and by 2020 a series of six frigates of 22350 project.

Currently, Severnaya Verf is executing a contract for 4 corvettes of 20380 project, 2 frigates (22350 project) and a special communications ship of (18280) to enter service in the Russian Navy. The shipbuilder is now the sole supplier of frigates of 22350 project and Project 20380 corvettes.

St. Petersburg’s JSC Shipbuilding Plant Severnaya Verf (Northern Shipyard) is a leading shipbuilding company of the Russian defense industry. The firm has been part of Moscow-based United Industrial Corporation since 2004. The shipyard specializes in building cruisers, destroyers, minesweepers, patrol vessels and antisubmarine, research and passenger vessels, timber cargo carriers, trawlers, container ships and ro-ro vessels for the Russian Defense Ministry and foreign customers.