Eight billion rubles are to be invested in the development of Uralvagonzavod

20.03.2014 — News

SVERDLOVSK REGION

In 2014, eight billion rubles will be allocated toward technical upgrades at the main plant of the Uralvagonzavod Research and Production Corporation, OJSC, located in Nizhny Tagil. The majority of the funds will be used to modernize the mechanical-assembly production facility, where the plans include the purchase of over 450 pieces of equipment.

UVZ's press office told RusBusinessNews that in 2014 more than 1.1 billion rubles will also be spent on the completion of projects that are already underway, plus another 660 million will be allocated toward the creation of innovative railway equipment and 540 million toward technical upgrades ordered by monitoring agencies.