Uralvagonzavod to invest two billion in the modernization of its military production facilities

06.06.2013 — News

SVERDLOVSK REGION

The Uralvagonzavod Research and Production Corporation, OJSC parent company was awarded one billion rubles of federal money for the renovation of a specialized production facility, as part of the Development of the Military-Industrial Complex federal program. Uralvagonzavod will invest a similar amount from its own funds during 2013. The investments will be used to prepare for the serial production of new, specially designated products.

UVZ's press office told RusBusinessNews that there are plans to spend 11.4 billion rubles just on the development of a business in Nizhny Tagil in 2013. Most of the funds will be used to update and install new equipment at the facility.

In 2012 and 2011, 4.5 and 3.7 billion rubles, respectively, were spent on development at Uralvagonzavod.