VEB will finance projects of United Engine Corporation - RUSSIAN AVIATION

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VEB will finance projects of United Engine Corporation

Russian Aviaton » Thursday August 27, 2015 09:06 MSK

In the network of MAKS-2015 international airshow State Corporation "Bank for Development and Foreign Economic Affairs” (Vnesheconombank or VEB) and United Engine Corporation (UEC, part of Rostec State Corporation) signed a credit agreement for financing the implementation of UEC's projects, specified in the Federal Target Program for Development of Military Industrial Sector for 2011-2020.

The document was signed by the First Deputy Chairman – member of the VEB Management Board, Andrei Sapelin, and UEC CEO Alexander Artyukhov.

The 842 million rubles credit will be used for implementation of two projects: reconstruction and re-equipment of Kuznetsov Company’s (Samara) test rig (where the engines for upgraded Tu-160 bombers will be tested), as well as production capacities of UMPO (Ufa) used for production of VK-2500 helicopter engines. VEB to allocate 398,7 million rubles and 443,3 million rubles to the enterprises respectively, VEB explained.

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