Novikombank, the base bank for the Russian industry, has granted a 20 million euro worth loan to the Irkut Corp to finance the execution of an export contract for the delivery of new aviation equipment.
This agreement has become the first step towards promising cooperation between the parties, Rostec announced during January last week.
“Financing of the Irkut Corporation's aircraft proves that our cooperation in developing the export potential of the Russian aviation cluster in general is becoming closer," said Elena Georgieva, Chairperson of the Management Board of Novikombank.
The President of PJSC Irkut Corporation Oleg Demchenko emphasizes that complete support from government agencies of the Russian Federation, Rosoboronexport and Russian commercial banks including Novikombank is an important factor in the promotion of Russian high-tech products on the global market.
Novikombank has worked in the real economy for over 20 years and invests in modernization and innovative development of the national industry.
Apart from giving guarantees and loans to the members of the United Aircraft Corporation, Novikombank also finances various production programs.
Thus, in November 2016, a credit line was opened for the Russian Aircraft Corporation "MiG" to provide for re-equipment of the enterprise.
Besides, Novikombank actively implements payroll projects for employees of several defence companies and gives them consumer loans.
Novikombank's customers include well-known companies such as the United Aircraft Corporation, PJSC Tupolev, OJSC Ilyushin Aviation Complex, JSC Sukhoi Civil Aircraft, etc.
The board of directors of Russian conglomerate Rostec will consider the sale of a 26 percent stake minus one share in weapons maker Kalashnikov to two private investors, Andrei Bokarev and Alexei Krivoruchko. Rostec announced Friday that it has agreed to sell off a stake in Kalashnikov as part of an overhaul of the producer of the AK-47 assault rifle
Rostec's newly launched anti-hacking center RostecInform (RT Inform) to monitor 20 per cent of the Russian firm's major businesses by 2017-end, including helicopter and missile manufacturing business units. By 2020, RT Inform plans to increase this coverage to 30 percent,
Russias defence and high technology holding company, Rostec declared 18% increase in consolidated revenues, amounting to 1 trillion and 140 billion rubles in 2015, despite the sanctions regime imposed against the firm. "Against the sanctions pressure, the general decline of the Russian economy and fall of industrial production index by more than 3 %, we managed to increase the revenue of the State Corporation to 1 trillion 140 billion rubles, demonstrating a growth by 18 % compared to 2014", said CEO of Rostec,Sergey Chemezov during the meeting with the President of Russia Vladimir Putin
Russias state corporation Rostec has denied reports that the contract has been signed for the delivery of the Triumph S-400 anti-aircraft missile systems to India. “A contract for delivering the Triumph S-400 anti-aircraft missile systems to India is not yet concluded,” Sergey Chemezov, director-general of the Rostec State Corporation told journalists on Wednesday, TASS reported
The United States government is planning a new financing option to enable its allies and partners buy American weapons as part of the Trump administrations goal of enabling defense contractors grow their sales. The US administration had liberalized the sale of unmanned aerial systems in April this year and plans further initiatives to counter competition from China, Israel and Russia among others, participants at a Center for Strategic and International Studies (CSIS) event in Washington on Wednesday said
Irkut, a subsidiary of the Russian state-controlled United Aircraft Corporation (UAC), reports 17% increase in the revenue for the financial year 2016 reaching almost US$1.624 billion against US$1
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