The Government of Russia will expand the programme of support for large investment projects in priority sectors, including the production of aircraft engines, the national administration said.
Mikhail Mishustin, chairman of the government of the Russian Federation, reportedly stressed that the measure is aimed at reducing the burden Russian companies face because of international sanctions applied to the country since the military invasion of Ukraine on 24 February.
From now on, companies will be able to invest less of their own resources and banks will provide the remaining sums. To this end, the government will increase the total amount to be allocated to borrowers. It will also be possible to launch a new investment cycle on the basis of existing companies. In this way, there would be no need to create additional legal entities, the statement says.
Russia argues that the measures will increase the attractiveness of domestic projects and encourage investment. Moreover, loans to companies that create promising production facilities would boost the economy.
As it has done on other occasions since the start of the war in Ukraine, the Russian government has emphasized the need to reduce dependence on foreign inputs as much as possible. For the local aerospace industry, reducing imports of components and encouraging domestic manufacturers’ own activity is key to its intentions.
Thus, the government will help strengthen the production of aircraft engines for the entire range of Russian civil and military aircraft. The state-owned United Engine Corporation, which is engaged in power plant production, will be able to use more than 44 billion roubles of federal funds for this purpose.
According to Mishustin, the industry needs to produce about fifty PD-8 engines to power Sukhoi Superjets in the next two years. Twenty PS-90A engines should also be produced for the Tupolev Tu-214. Finally, fourteen PD-14 engines, which will be the propulsion source for the future Irkut MC-21, would be necessary.
See also: Sukhoi tests 100% Russian Aviadvigatel PD-8 engine on an Ilyushin Il-76
