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Business news, 11.02.2002 17:53

Sea trials of Talwar frigate built for India completed

frigate built by Baltiysky Zavod The ship is to be delivered to the Customer in May 2002.

The second frigate being built for India, Trishul, will be completed and tested at the yard by the end of May and delivered to India in November 2002. One more frigate, Tabar, is planned to be commissioned in May 2003.

To remind, Baltiysky Zavod, is executing $1 billion contract for three frigates for the Indian Navy, concluded in 1998.

The authorized capital stock of Baltiysky Zavod equals 180.474 million roubles and is divided into 750.725 thousand equities of 240.4 roubles each. The largest shareholders of the company are Interregional Investment Bank (16,4 %), East-Polymetal Group (54 %), Inkombank (9 %); individuals own 21 %. The “Gold Share” belongs to the state.

News source: Rosbalt

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