American company to invest $150 million in production of Ukrainian An-74 aircraft
Ukraine’s state-owned Ukroboronprom concern, the Kharkiv State Aircraft Manufacturing Company and US-based Oriole Capital Group signed an agreement on batch production of AN-74 aircraft for the amount of USD 150 million. The agreements were reached during the Dubai Airshow 2017, a leading international exhibition currently held in the United Arab Emirates, Ukroboronprom’s press service reported.
The agreement details the production of various modifications of the AN-74. Oriole Capital Group will be entitled to invest in the production, modernization and sales of this aircraft. In return, Oriole will finance the modernization of existing production and the full involvement of all 3,000 specialists of Kharkiv enterprise, as well as the aircraft and avionics modernization program, which will help increase the operational capabilities of the AN-74 aircraft.
In addition, the Kharkiv State Aircraft Manufacturing Company will receive orders for the manufacture of spare parts for aircraft, maintenance, and pilot training. Ukroboronprom did not specify how long the agreement will last but noted that it is a long-term one.