Russian defense to invest 4.03 billion rubles (US $121 million) in the Mil Moscow helicopter plant

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Russian defense to invest 4.03 billion rubles (US $121 million) in the Mil Moscow helicopter plant

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Moscow

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Russian defense group Oboronprom is planning to invest 4.03 billion rubles (US $121 million) in the Mil Moscow helicopter plant. Oboronprom is part of state-owned defense giant Rostec. To finance the investment, the Mil Moscow plant will issue additional shares, Rostec said in a statement.The Development Bank is financing the project to develop and launch mass production of the Ka-226T light multirole helicopter and the Mi-38 multirole heavy-lifter The expansion plans are related to the positive market forecasts for the Russian military aviation industry. Rosoboronexport, another Rostec subsidiary, says it expects to see a 30 percent increase in aircraft sales and a 20 percent growth in helicopter sales in 2013.In 2010 the company launched the Mi-171?2 deep upgrade option for the Mi-8/17 helicopters. Russian Helicopters is determined to maintain its strong positions in the traditional markets, so the Mi-171?2 will become a successful new addition to the large international fleet of the best-selling Mi-8/17 series Rostec comprises some 663 manufacturing companies, according to data from the company. The Russian group was established in 2007 to promote the development, production and exports of Russian arms and military equipment. Rostec’s subsidiary, Rosoboronexport, says it accounts for more than 80 percent of exports of Russian weapons and military equipment, which are distributed to more than 70 countries.Russian Helicopters has also begun the development of a new high-speed helicopter that will become the core of a system ensuring accessibility of remote Russian regions. The Mil Moscow plant’s product portfolio includes a wide range of aircraft, including transport helicopters Mi-38 and Mi-26T, and medium multirole helicopters Mi-8/17 and Mi-171A2. http://www.oboronprom.ru/en/content/projects