05 September 2016, Monday, 14:24

UMPO is to attract a loan of 2.6 billion rubles to purchase equipment for advanced engines development

 

UFA, 5 September 2016. /Bashinform News Agency, Olesya Seregina/. PJSC Ufa Engine Industrial Association (UMPO) will draw a loan within 2.6 billion rubles from the JSC United Engine Building Corporation. The interest rate is not more than eight percent per annum. The transaction was approved by shareholders at an extraordinary meeting of UMPO on August 30th. It is reported by "Kommersant-Ufa" referring to the company materials.

The funds will be used to purchase equipment for the development of civil aviation engines PD-14, PD-14A-14M PD, PD-10, as well as reimbursement of costs previously incurred by UMPO for the purchase of this equipment.

The loan repayment term is not later than June 30, 2026.

PJSC Ufa Engine Industrial Association (UMPO) is the largest manufacturer of aircraft engines in Russia. The main activities are development, production, maintenance and repair of turbo-jet aircraft engines and gas-pumping units, manufacture and repair of helicopter units. It is a part of the United Engine Corporation (UEC) — a 100-percent subsidiary of JSC Oboronprom for engine building companies assets management.