VTB Bank has granted a RUB 10 billion loan facility to OJSC Northwest Regional Center Construction Directorate of OJSC Concern PVO Almaz-Antey, the OJSC Concern PVO Almaz-Antey subsidiary. The funds were granted for the term of seven years to establish Northwest Regional Center of OJSC Concern PVO Almaz-Antey on the basis of OJSC GOZ Obukhovsky Plant. Under this project the production line and technologies of the enterprise will be streamlined and improved.
According to Valery Lukyanenko, Member of VTB Management Board, ”VTB has always supported initiatives of its strategic partners. Financing of this Almaz-Antey project has a great social significance as it will contribute to competitiveness of the domestic military-industrial complex and stronger defense capacity and economy of the country."
OJSC Concern PVO Almaz-Antey has a full spectrum of technologies required for production, modernization, maintenance and recycling of a wide range of military, civil and dual-purpose products. The main military products are: air defense missile complexes and systems, various-application radars, automation systems, GLONASS/GPS equipment, etc. Among the main “civil” products are radar facilities and automation systems for civil aviation traffic control, telecommunication equipment, fuel and energy complex equipment, transportation equipment, lifting and transporting equipment, climate technologies, medical equipment, devices for household utilities, etc.