OREANDA-NEWS. May 22, 2009. In the first quarter of 2009, net loss of shipbuilding plant Severnaya Verf (St. Petersburg) fell almost 99 times to RUR 1.224 mln, the company states.

In the reported period, the company’s earnings increased 4.4 times to RUR 2.455 bln.

Severnaya Verf shipyard is located at the entry to the sea canal of the Gulf of Finland. The shipyard's facilities including covered slip with four construction sites and hoisting equipment with a floating dock enable construction and repair of different ships and vessels according to the requirement of all classification societies. Severnaya Verf is approved to be the only supplier of Frigate class vessels for RF Navy.