Russia’s Krasnoye Sormovo shipyard has been selected to build only the second cruiseship constructed in the country in the post-Soviet era.

The Nizhny Novgorod-based yard, owned by state holding company United Shipbuilding Corporation (USC), will construct a four-deck vessel designed by Ukraine’s Marine Engineering Bureau and valued at about RUB 2.5bn ($42.19m), PortNews said.

The new vessel will be 141m long and will accommodate 300 passengers. An owner has not been revealed.

The first post-Soviet cruiseship, for operation in the Caspian and Black Sea, started construction at USC's Lotos yard last June.

USC has also said it intends to restart cruiseship building at its Arctech yard in Helsinki, Finland.