Vnesheconombank provides financing for the construction of NPO Nauka’s new production facility for aircraft systems in the Vladimir Region.
The project includes building a test facility with mechanical assembly and electroplating capabilities and relocating production from Moscow to NPO Nauka’s branch in the Kirzhach District, Vladimir Region.
“This is already the second stage of Vnesheconombank’s financing for NPO Nauka’s project. The Bank is to invest 758 million roubles in the project at this stage, and Vnesheconombank has provided the second tranche of this credit facility. The Bank’s loan will be used to buy new equipment for periodic testing and relocate production,” Vnesheconombank’s First Deputy Chairman and Member of the Board Dmitry Kurdyukov said.
The first stage worth 570 million roubles, aimed at upgrading and re-equipping the existing production facilities of the branch and testing centre in Shchelkovo-10, has already been financed by Vnesheconombank. The project received 244 million roubles in financing from the Bank. The total value of the project’s two stages is 2.2 billion roubles, while the approved share of Vnesheconombank’s financing is 1 billion roubles.
According to Dmitry Kurdyukov, “when completed, the project will increase cost effectiveness by considerably reducing production costs and will make the company more competitive.” Financing for high-technology projects, including the manufacture of aircraft components and systems, is on Vnesheconombank’s list of priorities.
NPO Nauka is a long-standing leader in the Russian aerospace industry and the country’s largest manufacturer of life support systems for aircraft, helicopters and manned spacecraft.