On Signing Agreement between Vnesheconombank, the United Aircraft Construction Corporation and the ANTONOV State Enterprise
In the course the Russian-Ukrainian Interstate Commission’s meeting and in the presence of Russian Prime Minister Vladimir Putin and Ukrainian Prime Minister Nikolai Azarov, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the United Aircraft Construction Corporation (OJSC) and the ANTONOV State Enterprise entered into an Agreement on Cooperation.
On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the United Aircraft Construction Corporation – by its President Alexei Fedorov, on behalf of the ANTONOV State Enterprise – by its President Dmitry Kiva.
The Agreement aims to establish partner relations and promote long-term effective and mutually beneficial cooperation.
Under the Agreement the parties intend to implement investment projects aimed at:
· developing and manufacturing high-technology industrial engineering products on the basis of innovation technologies as well as developing and launching batch production of civil, transport and military-transport aircraft;
· technical retooling of Russian and Ukrainian aircraft construction enterprises;
· creating after-sales aircraft service;
· promoting exports of industrial products and services, among other things, in order to diversify exports.
The Agreement provides for Vnesheconombank to conduct comprehensive expert examination of Russian-Ukrainian investment projects submitted by the United Aircraft Construction Company (OJSC) and the ANTONOV State Enterprise in order to explore the possibilities of the Bank’s participation in financing them.
The Agreement also provides for the possibility to finance and co-finance Russian-Ukrainian investment projects by Vnesheconombank provided that they are in line with the Memorandum on the Bank’s Financial Policies and that they are examined positively by experts.
The United Aircraft Construction Corporation (OJSC) was established subject to presidential decree № 140, dated February 20, 2006. The Corporation and its companies give high priority to developing manufacturing, operation monitoring, guarantee and after-sales service, upgrading, repairs and utilization of civil and military aircraft. The Corporation’s charter capital is 174.61 billion rubles. The Corporation’s principal shareholder is the Russian Federation, which owns 80.28% of shares.
The ANTONOV State Enterprise is the Antonov Scientific and Technological Complex. It was founded in 1946 by outstanding aircraft designer Oleg Antonov. Since its foundation the company created more than a hundred types and modifications of aircraft of various classes and purposes. More than a thousand and a half aircraft was exported to more than 70 countries of the world. All in all, the company built more than 22 000 Antonov aircraft. At present, the Antonov Company is involved in developing and building new prototype aircraft and modifications of earlier built aircraft and is responsible for their operation monitoring, it also performs engineering work to increase service life of aircraft under operation, provides cockpit and technical personnel with training and retraining. The Corporation participates in international cooperation in developing and manufacturing aircraft and is engaged in building ground transport facilities.
Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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