RUSSIA'S KRASNOYE SORMOVO FINISHES THIRD TANKER FOR SFAT INC

NIZHNY NOVGOROD, May 15 (AVN) - An oil tanker of river-sea class was set afloat by the local Kranoye Sormovo shipyard on Monday, Nikolay Zharkov, director general of the company, told the Military News Agency.

This is already the third tanker the shipyards builds for the SFAT American-Finnish corporation, the director said. The second was finished back in February 2000. The vessel will be turned over to the customer in August after the construction works and the sea tests are finished.

Prior to that, Krasnoye Sormovo was primarily involved in the production of multipurpose nuclear submarines and diesel submarines of Project 887, Zharkov went on. Now the shipbuilders have shifted over to conversion programmes.

The current project with SFAT envisages the construction of five tankers at the price of USD11m each.