Oslo: Russians troops’ annexation of Zaliv shipyard on the Crimean peninsula has left a Norwegian yard out of orders.
Ukrainian billionaire Kostyantin Zhevagos who owns yards in both Kiev and Norway has seen all his plans fall through due to the crisis on the Crimean peninsula, writes Finansavisen.
According to the paper, Zhevagos was thinking vertically and had grand plans for using his yard on the tip of the Crimean peninsula to produce hulls while using his other yard, Noryards just outside Bergen, to assemble offshore vessels.
As the plan was laid out on paper, Russian troops marched in and confiscated the Crimean yard , and transferred ownership to a Russian company.
The Russian move against Zaliv leaves Noryards with an orderbook that runs dry this June. In the past year the Norwegian shipbuilder has let go of 500 people.
Zhevagos took control over Noryards in the summer of 2014 from Bergen Group.
The London-based Ukrainian is worth $1.2bn, according to Forbes.