Russia to invest Ruble 14.3 billion to support its shipbuilding industry

Russia will invest Ruble 14.3 billion (about $470 million) to support its domestic shipbuilding industry.
 
According to Russian Prime Minister Vladimir Putin, the investments are required to improve the safety of navigation, to help the Russian shipbuilding industry to develop the production of more modern, reliable and efficient marine equipment, and are to be used in the development of the domestic commercial and fishing fleet. In addition, the funds are also expected to help Russia explore offshore fields and natural reserves in the north as well as revive inland river traffic.