Greece has signed a deal that could lead to the construction of a series of high-speed hydrofoil passengerships at Russia’s Vympel Shipyard.

Russian transport minister Maksim Sokolov announced the memorandum of agreement (MOA) during a recent trip to Greece, according to a report by Russian news agency Tass.

“There is still no solid contract but we are open for this interaction, since the project is quite successful,” Sokolov said at the 82nd Thessaloniki International Fair.