"You're too kind, Mr. Leglov. My family's arms factory is nowhere near the size of your North Sea Shipyard. Its land area is less than one-eighth of yours, and we have workers resigning almost every month."
When it comes to Russia's military-industrial sector, it's a long and complicated story. Without strong financial backing, even Russia's top ten oligarch groups can't afford the enormous costs required to sustain it.
"Ah, Mr. Mavi, you're being too modest. You've seen our North Sea Shipyard yourself. To be honest, if things continue to deteriorate and we don't receive new orders, bankruptcy is just a matter of time. I fear that our 110-year legacy will be ruined under my watch."
Leglov was frank—he knew there was no point in hiding the truth from someone in the industry.
Though he was the chairman of North Sea Shipyard, he was different from those businessmen who got rich off government contracts. He had principles and a deep attachment to the shipyard. He refused to engage in fraud or corruption. His only goal was to restore the shipyard's former glory and bring back its past brilliance.
"By the way, Mr. Mavi, I heard that you're here to order two cargo ships. Are you looking for bulk carriers or container ships?" North Sea Shipyard built not only military vessels but also commercial ships—out of necessity.
After interacting with Leglov, Mavi felt that he was an honest man. So, he decided to get straight to the point.
"Mr. Leglov, to be honest, I came here specifically for your shipyard—the North Sea Shipyard."
As soon as he said those words, Leglov was visibly stunned.
"For the North Sea Shipyard? What do you mean?" Leglov asked, puzzled.
Mavi smiled and replied casually, "Forty-two million dollars. That's my offer for the North Sea Shipyard."
Unlike his previous acquisitions, Mavi took the initiative this time and directly named his price. Whether Leglov agreed or not was up to him. After all, there were plenty of struggling private shipyards in Russia. They weren't Google or Amazon—there was no reason he had to buy this one in particular.
"Mr. Mavi, this is quite sudden. Can you give me some time to think about it?" Leglov had considered selling the shipyard before, but now that it was a real possibility, he felt conflicted. He needed time to think it through.
"Of course." Mavi nodded casually. The next day, he planned to visit another shipyard, which was slightly smaller and had an estimated value of around 31 million dollars.
---
Five days later, while lying on his hotel bed, Mavi received a call from Chairman Leglov.
"Hello, Mr. Mavi. I've thought it over these past few days. I accept your offer."
Leglov had struggled with the decision for a long time. He knew he lacked the funds to turn things around, and if he held onto the shipyard any longer, bankruptcy was inevitable. If that happened, the 110-year legacy of the North Sea Shipyard—and his father's hard work—would be lost forever under his watch.
"Good. Let's arrange a meeting." Mavi was pleased that Leglov had made this decision.
"Alright, Mr. Mavi."
After hanging up, Mavi called for his butler, Ivan.
"Does our family have any connections with the Northern Defense Fleet or the Baltic Fleet?"
Ivan thought for a moment. "There should be, young master. Are you looking to get in touch with them?"
"Yes. Try to arrange a meeting—I need to discuss something with them." Mavi spoke as he gestured for the maid, Anfiya, to pour him a glass of red wine.
Today was a day worth celebrating. His military-industrial business in Russia had taken its first major step. It had cost him a lot of money, but that was unavoidable. You can't catch a wolf without sacrificing the bait.
More importantly, the real spending was just beginning.
The shipyard itself wasn't worth much—it was just a large factory with technical capabilities. The real value lay in the ships and warships it produced.
Take the "Sovremenny-class" destroyer, for example. The export price of a Type 956 destroyer was 420 million dollars. The upgraded Type 956EM version was priced at 730 million dollars per ship.
Of course, these were export prices. The actual construction costs were much lower. In 2000, a Type 956 destroyer cost around 51 million dollars to build, while the upgraded 956EM model cost about 87 million dollars.
The arms business was extremely lucrative. Unfortunately, in times of peace, few countries were willing to spend a fortune on expensive destroyers. Even the annual maintenance costs alone were a significant financial burden. To put it bluntly, even the Russian Navy itself couldn't afford to build or maintain them.
"Understood, young master. I'll have someone reach out right away." The butler promptly left the hotel room. By now, he fully supported any decision Mavi made.
Mavi wanted to get in touch with the Northern Defense Fleet and the Baltic Fleet because he had a great idea.
---
Four days later, a military jeep carrying a young Russian man drove through the gates of a military district. This was the headquarters of the Northern Defense Fleet.
Security within the military district was tight, with multiple checkpoints along the way. After about twenty minutes of driving, the jeep finally arrived at the reception area.
"Mr. Mavi, please wait here for a moment. Colonel Yevgeny is on his way." A uniformed Russian soldier informed the young man in the reception room.
"Alright."
The young man was Mavi. He nodded and patiently waited for the naval officer to arrive.
When dealing with military officials, Mavi knew better than to bring a group of bodyguards or show up in flashy luxury cars. Even his attire was kept as low-key and formal as possible.
Five minutes later, a firm and deliberate knocking sound came from the door.
Knock! Knock!
The door opened, and a middle-aged man in a Russian naval uniform entered. His shoulders bore two bars and three stars, indicating his rank.
Everything about the man exuded military discipline—his serious expression, his sharp gaze—it seemed like nothing in the world could intimidate him.
"Hello, are you Mavi from the Mikoyan family? What brings you here today?" The officer got straight to the point after shaking hands with Mavi, skipping any pleasantries or small talk.
As a military man, Colonel Yevgeny had little patience for businessmen like Mavi. He viewed them as people who only cared about squeezing profits out of others. However, since his superiors had instructed him to meet with Mavi, he had no choice but to comply.