Friday, June 23, 2017

Sverdlovsk region committed to $4.5 billion military-industrial complex investment

The Sverdlovsk regional government has agreed to invest $4.5 billion dollars of its assets into a proposed military-industrial complex set to open before 2016.

Military industrial producers Ural Electrochemical Integrated Plant, Uralvagonzavod Research and Production Corporation, Urals Optical and Mechanical Plant Production Association, and the Kalinin Machine-Building Plant have already begun to upgrade their production facilities in preparation of the complex's opening, according to RusBusinessNews.

Over the past several years, more and more military equipment has been produced in the Urals. In 2012, the region was collectively awarded 39 percent more state defense contracts than in 2011. This year, the Ural Transport Machinery Plant received twice as many defense machinery orders than in the previous year.

Serov Mechanical Plant received 10 percent more defense contracts in 2012 than in 2011, while Verkhnyaya Salda Federal State-Owned Chemical Tank Plant saw a 50 percent spike in contracts over last year. The Central Research Institute of Machine Building produced three times more defense machinery this year than last year, RusBusinessNews reports.