The Mi-38 is one of several helicopters produced at the Mil Moscow plant. (Russian Helicopters)
WARSAW — Russian defense group Oboronprom is planning to invest 4.03 billion rubles (US $121 million) in the Mil Moscow helicopter plant. Oboronprom is part of state-owned defense giant Rostec. To finance the investment, the Mil Moscow plant will issue additional shares, Rostec said in a statement.
The expansion plans are related to the positive market forecasts for the Russian military aviation industry. Rosoboronexport, another Rostec subsidiary, says it expects to see a 30 percent increase in aircraft sales and a 20 percent growth in helicopter sales in 2013.
Rostec comprises some 663 manufacturing companies, according to data from the company. The Russian group was established in 2007 to promote the development, production and exports of Russian arms and military equipment. Rostecís subsidiary, Rosoboronexport, says it accounts for more than 80 percent of exports of Russian weapons and military equipment, which are distributed to more than 70 countries.
The Mil Moscow plantís product portfolio includes a wide range of aircraft, including transport helicopters Mi-38 and Mi-26T, and medium multirole helicopters Mi-8/17 and Mi-171A2.