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VTB finances FSUE Gas-Turbine Engineering Research and Production Center Salut

 
20 August 2012

© RIA Novosti, Pavel Lisicyn

VTB Bank granted a loan to Federal State Unitary Enterprise Gas-Turbine Engineering Research and Production Center Salut totaling RUB 2 billion. The company will channel the loan funds to finance its operating activities, including performance under export contracts.

Valery Lukyanenko, Member of VTB Bank Management Board, said: “The cooperation of VTB Bank and Gas-Turbine Engineering Research and Production Center Salut is consistent and long-term; it contributes to enhancing competitive position of domestic aircraft engine building and the country’s economy as a whole”.

Vladislav Masalov, the company’s CEO, also noted that “it is not the first loan provided by VTB to enable our company to realize its production plans”.


For reference:

Federal State Unitary Enterprise Gas-Turbine Engineering Research and Production Center Salut is one of the largest enterprises of Russian defense industry. Its core business is manufacturing and repair of aircraft engines for the SU-27 family and Yak-130 combat trainer aircraft, as well as gas turbine engines of various modifications.


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