Russian shipbuilder Severnaya Verf is plotting an expansion that could see it diversify into gas carriers and tankers.

A new plant is planned for the St Petersburg site by the end of 2019, acting CEO Igor Ponomaryov said at a meeting of the investment council, according to the Itar Tass news agency.

More than RUB 26bn ($463m) will be spent on the work, which is also aimed at winning domestic and overseas naval orders.

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