The Kharkiv State Aircraft Manufacturing Company (KSAMC), which is part of Ukraine's state-run Ukroboronprom Concern, will get from the U.S.-based Oriole Capital Group an investment worth $150 million for the serial production of An-74 aircraft.
According to the press service of Ukroboronprom, the relevant agreements between the KSAMC and the Oriole Capital Group were achieved during the ongoing 15th international exhibition Dubai Airshow held in the United Arab Emirates.
"First of all, we are talking about the serial production at the KSAMC facilities of the Ukrainian An-74 aircraft in various modifications In turn, Oriole Capital Group will receive the right to invest in the production, modernization, and sale of these aircraft. A key element of this strategic partnership is modernization of the existing production, full involvement of all 3,000 staff of the Kharkiv enterprise, as well as a program for the modernization of aircraft and its avionics, which will help increase the unique operational capabilities of the An-74 aircraft," the report says.
Read alsoUkrainian-made An-132D transport aircraft showcased at Dubai Air ShowThe press service noted that the KSAMC will receive orders for the manufacture of spare parts, maintenance, and pilot training.
It is noted that the agreement lays down long terms for project implementation.
Ukroboronprom CEO Roman Romanov has noted that an agreement on attracting investment from the U.S. is a very important occasion for Ukraine.
Read alsoUkraine's Antonov shows video of brand-new AN−132D performing at Dubai Airshow 2017UNIAN memo. Ukraine's state-run Ukroboronprom Concern was established in 2010 to ensure the effective operation and management of state-run economic entities involved in the development, manufacture, sale, repair, modernization and disposal of weapons, military and special equipment, and ammunition. The companies also participate in military and technical cooperation. The concern comprises over a hundred enterprises of Ukraine's military industrial complex.