Source Pravda.Ru

Sirocco Aerospace International to get shares in Russia's largest plane manufacturing plant

Sirocco Aerospace International (SAI), the Russian Property Ministry, the aircraft company Tupolev and Aviastar-SP sighed an investment agreement amounting to $280m, Igor Karavayev, Vice President of Sirocco Aerospace-Russia said in an interview with RBC. He was quoted as saying that this sum would be invested in the program that envisages the manufacturing of TU-204-120 planes. The agreement stipulates that Sirocco will get a 25 percent stake plus one share in Aviastar-SP, which is the largest plane manufacturing plant in Europe, and a 25 percent block of shares plus one share in Tupolev.

As it was earlier reported Sirocco Aerospace International owns exclusive rights for the marketing and manufacturing of TU-204s with cargo and passenger modifications with Rolls-Royce engines. The company has invested $170m in the development of production of these planes since 1996.