A RS-24 Yars intercontinental ballistic missile system moves on the Red Square during the military parade marking the 70th anniversary of the victory in the Great Patriotic War, in Moscow, Russia, May 9, 2015. (Xinhua/Jia Yuchen)

MOSCOW, March 17 (Xinhua) -- Russia's first upgraded Borei-class nuclear-powered strategic submarine will be delivered as scheduled, the Russian United Shipbuilding Corporation said Friday.

The Knyaz Vladimir "is expected to be floated out in the second quarter of this year," Igor Ponomarev, the company's vice president for military shipbuilding, was quoted by RIA Novosti news agency as saying.

"Its commissioning will take place on schedule," he said.

He added that the submarine envisions a number of improvements, including arming it with enhanced Bulava-M sea-launched intercontinental ballistic missiles.

By 2020, the Russian Navy plans to operate a total of eight Borei-class strategic submarines. Currently there are three such submarines in the Russian Navy.