30 Dec '10
Primorsky region-based helicopter building company Arsenyevsk aviation company Prorgess has announced plans to take out $190m in loans with Sberbank.
The company is reportedly to open two lines of credit – for $82m and $108m – with the bank.
The funds are to be loaned for three years at 9% interest rate, the firm said.
Under plans, the funds are to be used to finance the state contract with the RF Ministry of Defense.
Progress is a part of Russian Helicopters group.