Baltleasing To Finance Wharves

St Petersburg company Baltiisky Leasing, one of the companies authorised to distribute budgetary funds to enterprises in the Leningrad Oblast, is to this year begin implementing a project restructuring the state shipbuilding enterprise Admiralty Wharves,

<BR>St Petersburg company Baltiisky Leasing, one of the companies authorised to distribute budgetary funds to enterprises in the Leningrad Oblast, is to this year begin implementing a project restructuring the state shipbuilding enterprise Admiralty Wharves, costing around $35m. This was announced by the company's general director, a member of the Russian Association of Leasing Companies, Dmitriy Korchagov. The project is expected to last five years. A leasing scheme will be applied after the project is implemented, to ships to be built at a single wharf in St Petersburg. The total cost of the project is estimated to be $610m.