The UkrOboronProm SC, Kharkiv State Aircraft Manufacturing Company and U.S.-based Oriole Capital Group reached an agreement on powerful investment into the Kharkiv enterprise.
Under the terms of the agreement, UKROBORONPROM (UOP) enterprise “Kharkiv State Aircraft Manufacturing Company” will receive the order for aircraft mass production in the amount of 150 million USD. The agreement was reached during the international exhibition Dubai Airshow 2017, currently held in the United Arab Emirates.
First of all, this involves mass production of Ukrainian An-74 aircraft of various modifications at the facilities of the Kharkiv State Aircraft Manufacturing Company. In turn, Oriole Capital Group will invest in the production, modernization, and sales of AN-74 aircraft.
Key to the strategic partnership is a focus on modernizing existing production and processes, re-employment of the plant’s workforce of 3,000 people, and an aircraft and avionics modernization program that will further differentiate the unique performance capabilities of the AN-74.
In addition, Kharkiv State Aircraft Manufacturing Company will receive orders for the manufacture of spare parts for aircraft, maintenance and pilot training.
"This investment agreement with the United States is extremely important for Ukraine. For the first time, the aircraft manufacturing company of our country has a powerful international investor who plans to provide consistent investments over a number of years. This demonstrates that UOP enterprises are reliable world-class partners, which guarantee high-quality and timely fulfillment of orders. In fact, it is a clear signal, "green-light", for other investors, considering opportunities for investing into Ukrainian high-tech industry. Oriole’s investment and operational support will significantly boost the country’s commercial manufacturing capabilities in the region and beyond, and presents a highly strategic opportunity to demonstrate the combined capabilities of a Ukraine-U.S. partnership”, – UOP Director General Roman Romanov, commenting on the agreements reached.
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