The Ministry of Industry and Trade of the Russian Federation has developed a project to attract RUB 108 billion for the acquisition of 318 ships on lease until 2030, said Aleksey Isachkin, Deputy Director of the Department of Shipbuilding Industry and Marine Facilities of the Ministry of Industry and Trade, during the 'Northern Supply: Improving the Mechanisms of State Support' round table in the Federation Council on Wednesday. This was reported by the TASS news agency.

'According to our estimates, the preferential leasing programme is one of the most effective measures contributing to the ordering of new fleet. Working with GTLK (State Transport Leasing Company – TASS note), we have developed [a project] to attract RUB 108 billion into this programme for building 318 ships before 2030. We have sent the project to the Ministry of Economic Development and the Ministry of Finance', Isachkin said.

According to Isachkin, around 150 cargo ships will be used for the Northern Supply (delivery of vital supplies to remote Russian territories). Another important project within this initiative is an investment project for modernising Russia's facilities for building a modern river fleet for domestic use. This project is being implemented at the Zhatayskaya shipyard in Yakutsk and has been extended until 2023.

At the end of 2020, the Northern Supply volume totalled 3.1 million tonnes worth RUB 72.1 billion. At the same time, last year's volume of state support for the Northern Supply was RUB 22.1 billion.