NIZHNY NOVGOROD, April 22 (RIA Novosti) - Russia's Krasnoye Sormovo shipyard based in Nizhny Novgorod on the Volga River said on Tuesday it plans to build three tankers for a Panama shipping company with deadweight of 5,600 metric tons each.

"Under a contract that has been signed with Argo Shipping International, the shipyard will build the first tanker by late 2009, the second tanker in the summer of 2010 and the third tanker in the fall of 2010. In addition, an option for a fourth vessel is expected to be confirmed in summer," the shipyard said in a statement.

The tankers will be 141 m long, 16.9 m wide, with 3.7/3.6 m draught, speed of 10 knots, a crew of 12/14 and capable of 15-day long voyages without refueling, the shipyard said.

Krasnoye Sormovo is currently building vessels for Italian, Turkish and Azerbaijani shipping companies.