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Wednesday, November 02, 2011

Russian shipbuilder, Defense Ministry agree nuclear sub prices

K-329 Severodvinsk (Yasen class)United Shipbuilding Corporation (USC) and the Russian Defense Ministry have agreed on prices for the Yasen and Borey class nuclear-powered submarines, a defense industry source said on Tuesday.

The ministry and the USC have been wrangling over the prices of the Borey (Project 955) and Yasen (Project 885) submarines and other major contracts for several months.

“Today, at a meeting with [Deputy Prime Minister] Igor Sechin, an important compromise has been reached on arms procurement contracts between USC and the Defense Ministry for the current year,” the source said.

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