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Business news, 19.02.2004 14:49

Almaz signed USD 9 million pact for ship maintenance with Greece

Almaz signed USD 9 million pact for ship maintenance with Greece . Almaz, the Saint Petersburg shipbuilding company, today signed a long-term agreement with the Greek Defense Ministry to supply spare parts and equipment for two vessels produced at the plant and turned over to Greece in 2001. The agreement was done within the framework of the existing contract between the shipbuilder and Greece's Defense Ministry, Almaz's press service said. The contract is worth more than USD 9 million. The agreement was signed by Rosoboroneksport (Russia Defense Exports), the Russian representative of the Greek Defense Ministry and Almaz.

Almaz is currently at work on a third vessel called for in the contract with Greece. Final testing of the ship will begin late this month. Leonid Grabovets, Almaz's general director, has said this contract is worth USD 62 million.

Almaz is part of Sea and Oil & Gas Projects, a division of United Machine-Building Plants, with interests in shipbuilding, the design and production of equipment for the oil and gas industry, drilling platforms and drills. The largest shareholders in Almaz are Sea and Oil & Gas Projects (30.18%) and Almaz-Centre-Invest (42.17%).

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