Russia’s Rostec Signs Agreements Worth $1.5 billion at Army 2018 Show

  • Our Bureau
  • 01:07 PM, August 30, 2018
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Russia’s Rostec Signs Agreements Worth $1.5 billion at Army 2018 Show
Rostec Signs $1.5bn Contracts at Army 2018: Rostec image

Member-companies of Russia’s Rostec State Corporation signed agreements worth over 100 billion rubles ($1.5 billion) as part of the International Military-Technical Forum "Army-2018" held in Moscow last week.

Rostec companies included UralVagonZavod, Concern Tecmash, Rosoboronexport, High Precision Systems NPO JSC, TSNIITOCHMASH, Shvabe, Novikombank and other subsidiaries of Rostec. Firm orders came from countries in Asia, Africa and the Commonwealth of Independent States.

The agreements include supplies and maintenance of modern ground military equipment, drones, radio-electronic and melee weapons. Several financial arrangements were also made to ensure financing of developments and production, a Rostec release said today.

"The Forum proved again that interest in our developments grows. There are more and more negotiations regarding military-technical cooperation every year, and we are actively working with our main customers. This year we held over 120 meetings with Russian and foreign partners on the platform. We signed agreements for the amount exceeding 100 billion rubles," said Sergey Abramov, Industrial Director of Rostec.

Overall the Forum was attended by representatives from 118 foreign countries and 65 official military delegations, and 20 heads of military establishments of various countries.

As we had reported earlier, at "Army-2018", Rostec demonstrated over 450 samples of armaments, military and special equipment, including helicopters, tanks, infantry fighting vehicles, anti-aircraft missile systems with shells, new types of firearms, communications equipment, radio-electronic weapons, etc.

For instance, the following was presented: the Mi-35P, Mi-35M and Mi-28NE attack helicopters, the Mi-26T2V heavy-lift military transport helicopter, armored vehicles on the Armata platform, the first Sosna serial anti-aircraft missile system, the Sprut-SDM1 light amphibious tank, the Nerpa unmanned attack submarine, new types of ammunition, an exoskeleton and a chameleon helmet to equip the "soldier of the future" among others.

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