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VTB guarantees performance of JSC Aircraft Repair’s state contract to the Russian Defense Ministry

29 July 2011

© RIA Novosti. Anton Denisov

VTB Bank issued a RUB 1.4 bln bank guarantee to JSC Aircraft Repair to perform its obligations under a state contract.

The bank guarantee is in favor of the Russian Defense Ministry to secure performance of the state contract envisaging capital repairs of radar equipment.

For reference:

JSC Aircraft Repair is the largest Russian holding to service, upgrade, repair and utilize aircraft machinery, aircraft support machinery, armament and military equipment of anti-aircraft defense in the interests of the Russian Army. The total stuff number of JSC Aircraft Repair member-enterprises exceeds 18 thousand.

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