State Budget Assigns 15 bln rubles for RAC “MIG”, Russian Aircraft Corporation MiG
Release Date: 2008-12-23
Moscow, December 19, 2008: Meeting of Board of Directors of RAC “MiG”, a 100% state corporation, appointed Mikhail Pogosyan for the position of General Director on 18.12.2008 and approved the plan of financial sanitation of MiG that had been recently approved by the interdepartmental commission for support of strategic enterprises. Particularly, it was decided to assign 15 bln rubles for MiG.
As Minpromtorg (Ministry of Industry and Trade) comments, financial sanitation plan envisages a range of other measures, among them - increase of fighter jet production up to 40 aircraft per year and reduction of production costs. Sokol, a plant located in Nizhny Novgorod, is to become the basic site for production of MiG-35 fighter jets in the framework of a cooperation agreement signed by UAC, represented by Alexey Fedorov, and Nizhny Novgorod region, represented by the Governor, Valery Shantsev, on 19.12.2008.
According to Alexey Fedorov, President of United Aircraft Corporation, current financial situation in Russia will probably introduce corrections in the initial plans but all the planned investments in technical re-equipment and training of staff will be made.
Source: Kommersant
| Type: | NORMAL |
| Company: | Russian Aircraft Corporation MiG |