Russia’s Caspian Energy, part of the CNRG Group, plans to sign three contracts by the end of 2014 for the construction of ten barge-tug units.

The order is set to be signed with Russian customer Sovfrakht, controlled by Rosshelf, itself a subsidiary of Russian state-owned United Shipbuilding Corporation (USC).

USC is a shareholder of CNRG Group, and manages the assets of CNRG Group through LLC Caspian Energy Management. In September this year, Sovfrakht and Caspian Energy signed a letter of intent for the barge-tug construction.