Trusted legal advisors worldwide
KIAP Provided Legal Support for Zvezda Shipbuilding Complex in Conclusion of Transaction on Launch of Joint Venture with Samsung Heavy Industries
8 January 2020
KIAP lawyers provided legal assistance to Zvezda Shipbuilding complex within the preparation of documents and negotiations on the terms of the deal on the establishment of a joint venture with Samsung Heavy Industries. Zvezda Shipbuilding complex and Samsung Heavy Industries officially announced the establishment of a joint venture to manage construction projects at the SBC Zvezda with shuttle tankers with a deadweight of 42 to 120 thousand tons within the V Eastern Economic Forum, which was held during 4-6 September in Vladivostok.Samsung Heavy Industries has extensive experience and expertise in design and construction of shuttle tankers. It is one of the "Big Three" shipbuilders in South Korea. Zvezda Shipbuilding complex is being established on the basis of Zvezda Far-eastern Shipyard by a consortium of investors headed by Rosneft. The project of the complex requires the construction of a heavy outfitting slipway, a dry dock, full-cycle production workshops, as well as workshops for the construction of offshore marine equipment.Read the full article here.