Russian Helicopters and Novikombank sign agreements

Russian Helicopters and Novikombank sign agreements 2 Sep, 19, Source: Russian Helicopters

During the International Aviation and Space Salon MAKS-2019, Russian Helicopters holding company (part of Rostec State Corporation) and Novikombank signed an agreement on financing Russian helicopter factories Progress Arsenyev Aviation Company (Progress AAC) named after Nikolai Sazykin and Rostvertol.

The relevant agreements were signed by Chairperson of the Management Board of Novikombank Elena Georgieva and Director General of Russian Helicopters Holding Company Andrey Boginsky.

Funds to be received by Progress AAC in the Primorsky Territory as part of the investment project will be allocated primarily for creating conditions for manufacture of the state-of-the-art civilian helicopter Ka-62. This rotorcraft debuted in the flight program of MAKS-2019. Overall, investments will total 10 billion rubles. The same amount will be invested in helicopter production in Rostvertol in the Rostov Region.

These agreements were concluded as part of strengthening strategic partnership with Russian Helicopters. The bank has actively cooperated with the holding company since 2011, providing services related to settlements, lending, investments and finance. Novikombank’s credit limit for Russian Helicopters is 54.55 billion rubles.

“I am convinced that Novikombank’s support will allow the holding company to implement a project related to manufacture of the civilian multipurpose helicopter Ka-62 which is really important for our industry and for the country,” emphasized Director General of Russian Helicopters holding company Andrey Boginsky after signing the agreements.

“Novikombank is known to support the most relevant projects in aircraft engineering. We are proud to be selected as a reliable partner who is ready to offer the most effective tailored financial solutions. We hope that we will continue to successfully develop strategic partnership with Russian Helicopters holding company which is a world leader in the helicopter industry,” said Chairperson of the Management Board of Novikombank Elena Georgieva.

Novikombank uses tools to support financing of the Ka-62 helicopter manufacture project, such as granting loans from the Industrial Development Fund at preferential interest rates. For instance, the Industrial Development Fund offers preferential terms and conditions of co-financing projects aimed at developing high-tech products, re-equipment and creation of competitive production facilities based on the best available technologies.

The new civilian multipurpose helicopter Ka-62 is created using the world’s latest achievements in the aircraft industry. It meets Russian and international standards of airworthiness, international standards of reliability, safety of flights, comfort requirements, operation and repairability. Ka-62 can make flights in the widest range of climates and geographies. It can be operated on depot airfields, oil platforms, and on unprepared ground.

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