OREANDA-NEWS. As part of holding Russian Exhibition of Armaments 2013 in the city of Nizhny Tagil in the presence of Deputy Prime Minister - Chairman of the Military-Industrial Commission under the Government of the Russian Federation Dmitry Rogozin State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' and LLC the Military Industrial Company (LLC MIC) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Deputy Chairman Anatoly Ballo and on behalf of LLC MIC - by Acting Director General, Deputy Director General for Finance and Economy, Chief Financial Officer Dmitry Gimmelberg.

The subject matter of the Agreement is to enhance long-term and effective cooperation as part of implementing a project to build an engineering testing center to manufacture test models of armored vehicles and equipment, military vehicles and test them for the Russian Defense Ministry and other security, defense and law enforcement agencies.

Under the Agreement LLC MIC is to prepare an investment proposal and develop a feasibility study for building a testing engineering center. For its part Vnesheconombank is to offer consulting services upon preparing a project proposal and conduct an expert examination of relevant documentation and explore the possibility of funding this project in the amount of up to 2.3 billion rubles for a period of 10 years.

The project's implementation would help to create new jobs, boost the defense industrial complex efficiency make military products manufactured by Russian companies more competitive.