OREANDA-NEWS.  January 26, 2012. Baltic Shipyard still has not commenced execution of a contract for construction of Floating Nuclear Power Plant, though the Customer Rosenergoatom Concern had transferred RUB 640 million to fund the newbuild order, Rosenergoatom said.

In March 2009, St. Petersburg-based Baltic Shipyard was awarded a contract for construction of the FNPP from Rosenergoatom, a Russian nuclear engineering Group. Baltic Shipyard specializing in the construction of surface nuclear-powered vessels is a shipbuilding asset owned by United Industrial Corporation (USC) but currently in crises management of United Shipbuilding Corporation (USC).

In June 2010, the shipbuilder successfully launched the first power generating unit and started outfitting works. The vessel was scheduled for delivery in 2012. In 2009-2010, Rosenergoatom transferred to Baltic Shipyard RUB 5.7 billion, which accounts for 66 percent of the contract total value. However, the shipbuilding firm was hit by a crises when the UIC’s MezhpromBank was announced bankrupt and RUB 1.9bn of upfront payment were frozen. So, the shipyard failed to ensure the contract execution. In December 2010 the Group confirmed the order performance by the shipyard in the amount of about 900 million rubles. In 2011, there was a significant slowdown in the newbuild construction. In January - August, the enterprise completed only half of the planned scope of work, which substantially restricted the ability of Baltic Shipyard to fulfill the contract terms and schedule, Rosenergoatom statement said.

The Concern comprises ten brunches, or all Russian nuclear plants, which operate 32 power units (16 reactors with water under pressure: 10 VVER-1000 and 6 - VVER - 440;
15 channel boiling reactors: 11 RBMK-1000 and 4 EGP-6; 1 fast neutron reactor), 7 directorates of NPPs under construction, and also Department of Capital Construction of Rostov Nuclear Power Plant under Construction', Directorate of Floating Thermal Nuclear Power Plants under Construction', Research and Development Center for Emergency Work at NPPs, Project Designing Branch, Engineering Branch and Engineering and Technical Center of Nuclear Plants.

St. Petersburg-based Baltic Shipyard is one of the largest shipbuilding enterprises in Russia. The company specializes in the construction of diesel and nuclear-powered icebreakers, ice-class vessels, heavy lift vessels and warships. The company manufactures a wide range of engineering products and power equipment.

United Shipbuilding Corporation is a 100-percent state-owned group of companies established by the Presidential Decree № 394 (March 21, 2007). The Corporation consists of nine engineering and design offices and 39 dockyards. The USC’ largest shipbuilding assets include Kaliningrad-based JSC Yantar Shipyard, JSC Admiralty Shipyards (St. Petersburg), JSC PA Sevmash (Severodvinsk), JSC DVZ Zvezda (Vladivostok) and Baltic Shipyard (in operational management). USC holds a 50% stake in Arctech Helsinki Shipyard, a joint venture with STX Finland Cruise Oy.