Vyborg Shipbuilding Plant's Multipurpose Semi-submerged Rigs Gain in Popularity

CS-50 multipurpose semi-submerged rig built at the Vyborg Shipbuilding Plant of the town of Vyborg, the Leningrad Region, will arrive in Norway on May 9. This is according to the plant's General Director, Sergei Zavyalov. Once the rig has arrived, the Моss Maritime company that commissioned its making will begin negotiating with prospective buyers. The work under this contract was financed jointly by the Vyborg Shipbuilding Plant and the Vneshtorgbank whose participation amounted to opening a $ 22.7 million credit line for the plant. The bank's total credits portfolio for the year 2002 comes to over $ 1 milliard. Cooperation between Моss Maritime and the Vyborg Shipbuilding Plant began in 1991. The CS-50 rig is the fourth one built after a Norwegian design. One of the rigs previously built by the Vyborg plant is now used in the Pacific Ocean as a launching pad for space rockets. Contracts for the making of two more multipurpose semi-submerged rigs the Vyborg Shipbuilding Plant may sign by September this year. Mr. Zavyalov said preliminary agreements had been signed, yet refused to name the prospective clients. However, he said, Моss Maritime might order another rig, which possibility was confirmed by the Financial Director of the Norwegian company. Mr. Zavyalov also said whether or not the projects he had referred to could be fulfilled depended on the financial scheme being developed in cooperation with the prospective clients. The contract may be signed in the fall after the plant completes the construction of a number of fishing trawlers, also for Norwegian clients, and an oil-gathering vessel for the Transneft Trading House.