Algerian naval ships arrive at OPK`s shipyard for repairs

December 29, 2008 - Two ships belonging to Algeria`s Navy have arrived at Russia`s Severnaya Verf enterprise for maintenance.

The Rais Killik and Rais Ali ships will be repaired and upgraded under a contract signed between Rosoboronexport and the Algerian National Defense Ministry. The Severnaya Verf shipyard is the project`s general contractor.

The price of the deal has not been disclosed. The ships` maintenance will take 22 months. Sixty percent of their equipment will be upgraded.

Severnaya Verf is currently repairing and modernizing two similar ships, which are expected to be returned to the Algerian Navy at the end of 2009.

Severnaya Verf is one of Russia`s major shipbuilding enterprises, which specializes in manufacturing warships for the Navy. Its main shareholder is the United Industrial Corporation (OPK), which controls a 72.19%-stake in the shipyard. The Federal State Property Fund owns 20.96% of its shares.

Source: http://www.setcorp.ru