Construction on the first Yasen (Graney) Class submarine, Severodvinsk, began in 1993 at the Sevmash shipyard but was delayed due to financial reasons, according to rianovosti.
The Graney Class nuclear submarine is capable of launching a variety of long-range cruise missiles, up to 5,000km with nuclear warheads while effectively engaging submarines, surface warships and land-based targets.
Armament of the attack submarine includes 24 cruise missiles, including the 3M51 Alfa SLCM, the SS-NX-26 Oniks SLCM or the SS-N-21 Granat / Sampson SLCM.
In addition, the submarine will also feature eight torpedo launchers, as well as mines and anti-ship missiles such as the SS-N-16 Stallion.
Severodvisk is expected to enter service with the Russia Navy by the end of 2010.
The naval shipyard began work on the second submarine in the series, the Kazan, in 2009. It will feature more advanced equipment and weaponry.