Article Posted on : - May 19, 2011

Lutsk, an anti-submarine corvette of the Ukrainian Navy.

MYKOLAIV (BNS): Ukraine is all set to build the first corvette for its Naval forces by 2016, according to reports.

Ukraine President Viktor Yanukovych has laid the keel of the corvette at Chernomorsky shipyard in Mykolaiv.

“I am confident that together we will create with you all the motivation for the development of shipbuilding,” Naval today quoted the Ukrainian leader as saying.

According to the earlier reports, the Cabinet of Ministers of Ukraine plans to allocate about $ 2 billion (UAH 16.22 billion) to finance the construction of four corvette until 2021.

In March 2009, Ukrainian Government have approved the defence programme for building ten corvettes under the project 58250, but due to the limited budget only four ships will be constructed till 2021.