Meeting with CEO of United Shipbuilding Corporation Andrei Puchkov

President of Russia Vladimir Putin: The United Shipbuilding Corporation is truly a comprehensive organisation, encompassing not only shipyards and ship repair facilities, but also research centres, design bureaus, and enterprises engaged in instrumentation and component manufacturing. It is the flagship organisation of our shipbuilding industry.

In 2023 and 2024, the Government provided substantial support to the corporation, totalling more than 80 billion rubles. VTB Bank has also been actively involved in this work. I know there are many tasks, challenging tasks, but progress is being made, and these tasks are being addressed. I would like to hear your assessment. Please, go ahead.

CEO of the United Shipbuilding Corporation Andrei Puchkov: Mr President, nearly three years ago, you set us the task of advancing the development of the United Shipbuilding Corporation. We have achieved certain results. For the second consecutive year, we have maintained positive operating profit. The year 2025 was particularly significant because, for the first time in many years, the USC recorded a positive consolidated financial result, including across its shipyards and production facilities. Our revenue has shown steady growth, increasing by 30 percent over the past three years and reaching 525 billion rubles in 2025.

In terms of production, we delivered approximately 110 ships and vessels during this period. The year 2025 was also a record year, with around 50 vessels delivered.

We continue to fulfil state defence orders on schedule. Last year, four submarines and the Navy's first combat icebreaker, Ivan Papanin, were delivered. We are also preparing a number of significant deliveries under state defence contracts in 2026.

In the civilian sector, I would like to highlight the largest series of nuclear-powered icebreakers in history. Last year, we delivered the Yakutia; this year, we are completing the Chukotka, and then there is the Leningrad, and the Stalingrad, both launched by you and currently under construction.

In addition, we are building cargo and passenger vessels, as well as fishing ships, including vessel types that, until recently, were not produced domestically.

A few words about our plans. You once noted that shipbuilding requires planning horizons extending at least to the middle of this century. Accordingly, we are laying the foundation today for decades of future development. We are actively upgrading our shipyards. This year, construction works will begin on our flagship project, the modernisation of Severnaya Verf. The shipyard will undergo an almost total renovation and acquire fundamentally new production capabilities. We are also advancing a major project in the Far East. At the same time, we are actively pursuing import substitution in marine equipment and components and continuing the digital transformation of the industry.

Vladimir Putin: We must do everything necessary to ensure that works on the two icebreakers you mentioned, the Leningrad and the Stalingrad, would not be put on hold. And, of course, we must continue implementing our plans for the Lider project.

Andrei Puchkov: Certainly, Mr President.

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