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Vostokproektverf & DSEC Co.,Ltd with Support of Rosneft Establish Joint Venture

Source: www.gulfoilandgas.com 9/8/2017, Location: Asia

The Far Eastern Design Institute Vostokproektverf, a subsidiary of the Far Eastern Shipbuilding and Repair Center (FESRC), and DSEC Co., Ltd, a major partner of Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) signed a Joint Venture Agreement.

The document follows the Memorandum of Understanding signed on September 03, 2017 which outlined the possibilities for the parties to develop their cooperation.

As per the new Agreement, the Joint Venture will provide design, engineering, procurement, management, and supervision services in shipyard construction. The parties also intend to jointly complete design and associated activities for the Zvezda Shipyard.

The experience and competencies gained through cooperation with DSEC, a South Korean engineering company with a unique expertise, will enable optimization of such processes as shipyard designing and procurement of relevant construction equipment, as well as a higher efficiency of investments into establishment of shipyards. This will maximize the economic effect from implementation of the Zvezda Shipbuilding Complex Construction Project.

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