OREANDA-NEWS. May 06, 2009. Striving to enhance cooperation with enterprises engaged in aviation and space industries, VTB Bank actively participates in financing engine-building enterprises, reported the press-centre of VTB Bank.

In particular, VTB extended a RUB 470 million facility to JSC Motorostroitel (Samara), a leading domestic engine-building enterprise of the aerospace industry. The funds were channeled to cover employment expenses. The total volume of deals closed by the parties this year amounts to RUB 1.62 billion.

Besides, VTB granted a RUB 400 million credit line to NPO Saturn (Rybinsk), a leading enterprise in domestic engine-building. The funds were channeled to cover employment expenses and to make settlements with counterparties. The cooperation between VTB Bank and NPO Saturn has been actively developing for the last two years. Total volume of deals closed by the parties, including documentary operations, exceeds RUB 10 billion.

VTB Bank traditionally puts great emphasis on developing aviation, engine-building and space industries. In the current conditions, support to the key industries of the Russian economy, including engine-building, is a priority task for VTB.

For reference:
In accordance with the RF Presidential Decree of 16 April 2008, JSC NPO Saturn is a member of engine production integrated group “United Engine Building Corporation” being established by OPK Oboronprom.

JSC Motorostroitel is a monopolist in design, manufacturing and engine repair for the Strategic Air Force and the Naval Air Force; in production of engines of first and second stages of Soyuz carrier rocket for piloted astronautics. It also produces booster stations for the gas extracting industry. In accordance with the RF Presidential Decree of 16 April 2008, JSC Motorostroitel is a member of engine production integrated group “United Engine Building Corporation” being established by OPK Oboronprom. Nowadays, Samara engine-building complex is being established on the base of the enterprise, which is to comprise both JSC Motorostroitel and the Kuznetsov Design Bureau that will help remove double production capacities from the complex, reduce power expenditure, overstaffing management etc.

JSC Saturn Scientific Production Association (NPO Saturn) is a successor of JSC Rybinsk Motors and JSC A.Lyulka-Saturn. It is a major domestic manufacturer of military and civil aviation engines. It carries out design, production, repair and maintenance of engines for Sukhoi, Tupolev and Ilyushin planes. The company also participates in designing and producing Sam-146 engine for SSJ-100 plane.