OREANDA-NEWS. On October 07, 2008 JSCIB “UkrSibbank” launched financing for a ship-building yard “Zaliv” (Crimea, Kerch) to build a ship servicing drilling platforms, as ordered by Ulstein Company (Norway), reported the press-centre of UkrSibbank.

The total cost of the project made up EUR 17.5 mln. The project is due by 15.05.2010.

The financing targets a ship-building contract to build the hull of a ship-supplier having a total tonnage of DWT 8200 to maintain oil and gas platforms equipped with a crane and platforms for transporting large-sized cargoes.

Previously, in 2007 “UkrSibbank” and “Zaliv” launched their first joint project aimed at financing building of the hull of a ship-supplier to maintain oil and gas platforms. The total cost of the project made up EUR 13.5 mln. So far, the building of the ship comes to a close, the ship is expected to be set afloat by the end of the month.

Norwegian shipbuilding company Ulstein Hull As proved to be the customer in both cases.

“The factors that contributed to the Bank’s taking a positive decision on the cooperation were Zaliv’s order portfolio increase, its considerable experience on the shipbuilding market, positive dynamics of the production volumes and its positive credit history,” shared Oleksandr Adarich, Chairman of the Management Board of JSCIB “UkrSibbank”. “During the time of our cooperation shipbuilding company “Zaliv” proved its being a reliable partner.”

Mykola Kuzmenko, Chairman of “Zaliv” Supervisory Board said in his turn: “Fist stages of cooperation usually see a great number of difficulties but in view of our mutual cooperation with JSCIB “UkrSibbank” this statement turned out not being a universal truth. The Bank did not only help structure the financial part of the project in the most effective way, but it was fully engrossed in the production process as well.”

“UkrSibbank” and “Zaliv” intend to continue their cooperation.