Russia supports Uralvagonzavod
The Russian government is providing financial support to state-owned tank manufacturer Uralvagonzavod.
Loss-making business activities have resulted in the company developing a debt load of RUB170 billion despite revenue of RUB127.5 billion ($1.3 billion) in 2014.
Moscow is ploughing RUB16.7 billion ($300 million) into Uralvagonzavod to keep it main research and development and production programmes going.
In addition to state guarantees, Uralvagonzavod hopes to receive state funds worth RUB35.2 billion for recapitalisation.
According to Oleg Siyenko, director general of Uralvagonzavod, the provision of state guarantees will allow the company to implement its investment projects in full, and in particular to
Already have an account? Log in
Want to keep reading this article?
More from Land Warfare
-
DSEI 2025: OpenWorks launches new system for on-the-move targeting
Vision Pace uses OpenWorks’ artificial intelligence (AI) classifiers and trackers to detect, track and identify multiple targets in land and naval applications for air defence.
-
DSEI 2025: Trials completed for new version of Tridon air defence gun
Less than two years ago, Sweden’s BAE Systems Bofors announced it was developing a new 40mm short-range air defence system using internal research and development funding, calling it the Tridon Mk2.
-
DSEI 2025: DroneShield sets sights on Europe thanks to surge in CUAS demand
The Australian-based CUAS technology specialist is responding to a marked shift in global appetite as it looks to branch out to an unspecified western European country early next year.