Far East | Industry, manufacturing

Sberbank to loan $190m to helicopter producer Progress

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.
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Locations: Primorsky Krai

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