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Business news, 27.04.2004 13:30

Northern Shipyard launches first destroyer for Chinese navy

Destroyer The first destroyer of the 659-E project, built at the Northern Shipyard plant for the naval forces of the Chinese People's Liberation Army, was launched today, according to the naval construction facility's information office. The ship will be handed over to the Chinese navy in the middle of 2005.

Taking part in the launching ceremony were the deputy head of the company Rosoboroneksport, Vladimir Pakhomov, the deputy commander of the Russian navy, Anatolii Smoliakov, the chairman of the board of directors of NPK and member of the board of Mezhprombank, Aleksandr Gnusarev, the general director of NPK, Boris Kuzik, as well as representatives of the Chinese navy.

The second destroyer is expected to be launched in August 2004 and be completed by the end of 2005. The contract to build the ships was signed at the beginning of 2002.

The controlling package of Northern Shipyard shares belong to the holding company New Programs and Concepts, which in turn is jointly controlled equally by Mezhprombank and the businessman Boris Kuzik.

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