OREANDA-NEWS.  The government of Bashkortostan and the founders of Honghua CIS LLC (OJSC "Research and Production Corporation "Uralvagonzavod", OJSC VTB Leasing, Sichuan company Honghua Group, signed a Memorandum of Cooperation during Oleg Sienko’s, CEO of OJSC "Research and Production Corporation "Uralvagonzavod" business visit to the Republic of Bashkortostan.

According to the document signed in Ufa, the parties are to provide favourable environment to create a rig manufacturing and maintenance plant for oil and gas exploration and development, using Bashkortostan facilities. As a part of the investment project, Honghua CIS LLC will locate its production facilities at OJSC "Engineering Company "Knight" (a part of UVZ Corporation) in Ishimbay.

At current an engineering project of the plant and a construction plan are under development. Aside from positive economic effect such large scale investment project will bring to Bashkortostan social significance. It will create new well-paid jobs and provide decent working conditions. The President of the Republic of Bashkortostan Rustem Khamitov stressed: "I am twice as happy to discuss today implementation of the project that will be located in the Republic of Bashkortostan. I would like to notice straight away that for us, for the government agencies of the republic, it is a very significant and interesting offer... We know that we will have to work closely together. I have no doubt we will carry out this project. I am sure the project will be a success. I see it that such a strong, large, powerful constituent unit as Bashkortostan will do its best to accelerate the project. I would like to thank you, Oleg Viktorovich, for choosing our republic as a location for this project. I thank your colleagues, who work with you today. I hope that we will have the first results in 2014."

"The key point here is developing Ishimbay facility, which produces tracked vehicles. We have planned a project for heavy rig production and assembly for oil and gas industry and have already started it. We have outlined ways and we work as planned. This spring we start working at the production site to execute the project. Of course, this is a crucial step. It is important that everybody involved is ready for it, because it determines the success of the project", said Oleg Sienko, CEO of OJSC "Research and Production Corporation "Uralvagonzavod". "We expect yearly turnout to equal 9 billion roubles. We set such standards for ourselves. At first, it will be a localized assembly plant. We do not indent to wait. We already receive requests from leasing companies, such as OJSC VTB Leasing. We already participate in auctions and tenders held by oil companies, Rosneft, for example", Oleg Sienko said.