Ukrainian president seeks shipbuilding revival

Ukrainian President Viktor Yanukovych says that Ukraine is serious about reviving and further developing of its ship-building industry in the Mykolaiv region. President Viktor Yanukovych made the commitment in a visit to the Chernomorsky Shipyard in Mykolaiv, where he participated in laying the keel of a corvette class ship for the Naval Force of Ukraine.

"I am confident that together we will create with you all the motivation for the development of shipbuilding," he told shipyard workers. The current ship will be the third corvette class that Ukraine will build since its independence.

The Cabinet of Ministers of Ukraine plans to allocate about $2 billion) to finance the construction of four corvette-class shipsby2021. The first ship of the corvette class is planned to leave the shipyard in 2016.

Chernomorsky shipyard is located to the southwest of the city of Mykolaiv at the Black Sea and is one of the largest in Europe. As part of the former Soviet Union, Ukraine built missile and aircraft carriers, large antisubmarine ships, heavy transport ships, boats, lighter carriers and multi-purpose icebreaking supply vessels. The country has 11 shipyards.

The industry is currently working at about 40 percent capacity and yards have  started to reorganize their operations and look for alternative solutions.

May 18, 2011