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Decree on shipbuilding corporation must be ready within week

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Russian President Vladimir Putin ordered the government Monday to draft a decree on forming of a shipbuilding corporation within a week.
MOSCOW, March 12 (RIA Novosti) - Russian President Vladimir Putin ordered the government Monday to draft a decree on forming of a shipbuilding corporation within a week.

"I ask [the government] to draft within a week a decree jointly with the presidential administration on forming a shipbuilding corporation for the legal registration of decisions we have agreed upon," Putin said.

The decision to form a united shipbuilding corporation to combine all state financial assets in the sector was announced by Putin at a conference last Friday.

First Deputy Prime Minister Sergei Ivanov, who is also chairman of the board of the United Aircraft Building Corporation (UABC), said last Friday the corporation will unite three regional sub-holdings - Northern, Western and Far-eastern.

He said Russian wharfs were overloaded with military orders, the main problem being "insufficient equipment and capacity for civilian shipbuilding."

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