Andhra Pradesh as a state is set to largely benefit from two of the recent MoUs that were inked between the EDB and Russian entities. The MoUs that were signed at the Eighth Annual Summit of BRICS in Goa will prove to be game changers for the ship building industry in the state.
MoU 1 – JSC United Shipbuilding Corporation (USC)
The MoU that was signed in between AP and JSC United Shipbuilding Corporation (USC) is going to give a new face lift to the ship building industry. USC is reckoned to be the largest shipbuilding corporation in Russia. 70 per cent of Indian naval ships and submarines have been supplied by USC and its subsidiaries.
It is also interesting to note that USC has an order book of over $20 billion significant orders from the Indian defence sector alone. This MoU will put a wide scope of operations in front of Andhra Pradesh with respect to ship building projects. The new unit that will be set up within the state will not only cater to the national market, but will also attract international deals.
MoU2 – JSC Alexeev
The second MoU that was signed with JSC Alexeev’s Central Hydrofoil Design Bureau, JSC Radar MMS and JSC Morinsis – AGAT and Elcom Systems Private Limited, will attract major investments towards the state.
A worldwide leading manufacturer and designer of high speed vessels , JSC Alexeev’s Design Bureau flaunts a diverse and rich experience in the areas of design, research, testing, construction and operation of vessels. Their vertical, Radar MMS is known to be a world leader in developing civil radio electronic systems, special software and precision instruments. On the other hand, the vertical Morinsis-AGAT is an umbrella organization in the Russian shipbuilding industry that specializes in informational systems and technologies, system engineering in marine data computing equipment and electromagnetic compatibility of radio-electronic facilities.
These two MoU s bring forth fresh prospects and possibilities for the state, with respect to economic dynamics, skill engagement and industrial boost.