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Russia to invest $1.1 billion in civilian helicopter industry
August 23, 2013, 5:46 pm

State-run Russian Helicopters have orders worth 388 billion rubles ($11.8 billion) through to 2020 [Xinhua]

State-run Russian Helicopters have orders worth 388 billion rubles ($11.8 billion) through to 2020 [Xinhua]

President Vladimir Putin has indicated that Moscow will allocate 36 billion rubles ($1.12 billion) for the development of Russia’s civilian helicopter manufacturing industry.

“In order to support the civil helicopter industry specifically, the federal budget will allocate about 36 billion rubles to it by 2020,” Putin said after he chaired a meet on outlook for Russia’s helicopter manufacturing sector.

Russia’s emphasis on helicopter production is part of its economy modernization drive.

“I am pleased to note that for many decades now this plant has been producing military and civilian helicopters for some very well-known international brands. In general, we saw that the work is stable; adequate production facilities, technological conditions and human resources are in place,” Putin said after an inspection at Rostov Helicopter Plant at Rostvertol, one of the leading companies in the aviation industry and part of the Russian Helicopters Holding.

State-run Russian Helicopters, one of the leaders in the domestic industry, have orders from foreign and domestic markets totaling 870 helicopters worth 388 billion rubles ($11.8 billion) through to 2020.

Putin, however, pointed out that growth in the industry has been mainly achieved thanks to production of military helicopters not civil helicopters.

“It is obvious that we must significantly overhaul this sector to ensure its balanced development and facilitate companies’ stable operation in the future. I am referring to significantly increasing the output and deliveries of civil helicopters both for export and for our own needs,” Putin said.

Daria Chernyshova in Moscow with inputs from Agencies for The BRICS Post

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