Kaliningrad: The Yantar Shipyard in Russia's Baltic exclave of Kaliningrad has said it will float out the first of the three Krivak-IV class frigates being built for the Indian Navy at the end of November. The ships are a follow-on order to three Krivak-III class ships earlier constructed by the Baltiysky Zavod shipyard.
Yantar is building three Project 1135.6 modified, Krivak-IV class (also known as the 'Talwar' class) guided missile frigates for the Indian Navy under a $1.6 billion contract signed in July, 2006.
"The first frigate in the series is expected to float out at the end of November," company spokesman Sergei Mikhailov said.
"Floating out does not mean that the sea trials will start right away. We still have to carry out post-construction work. The trials will start in 2010," he added.
Mikhailov reaffirmed that the shipyard should be able to deliver all three vessels to the customer in 2011-2012.
Earlier, in August this year, the Yantar shipyard had confessed that it was negotiating a $60 million loan to enable it to complete construction of the three frigates. According to Igor Orlov, director of Yantar, the shipyard had previously taken out a $110 million loan from Russian national development bank Vnesheconombank (VEB) but was now forced to seek an additional $60 million loan due to "financial constraints."