Moscow / 26 December 2012 - During the visit of Russian President Vladimir Putin to India, Russian Helicopters, a subsidiary of Oboronprom, part of Russian Technologies State Corporation, and Elcom Systems Private Limited, part of the Indian investment conglomerate SUN Group, signed in New Delhi an agreement to set up in India a modern industrial facility for manufacturing of Russian helicopter models, namely helicopters of the Ka- and Mi- brands.
The joint venture will have the capacity to produce key helicopter units and carry out final assembly of the machines as well as engage in ground and flight testing. It is expected that the enterprise will start with production of components for the multirole Ka-226T helicopter. The enterprise will serve as an industrial base for hi-tech Russian rotorcraft products in India.
"India is a traditional partner of Russian Helicopters in terms of helicopter deliveries. The creation of a joint Russian-Indian enterprise marks a new stage and also a logical continuation of our joint efforts in light of the growing demand for Russian helicopter models," said Dmitry Petrov, CEO of Russian Helicopters.
According to Petrov, the joint venture will help drive the development of India's aerospace industry and provide for effective application of advanced Russian technologies. It will also make it possible to organize the training of Indian engineers and promote the development of highly qualified personnel across the entire production chain.
Moreover, the enterprise will be eligible to implement offset projects under various procurement tenders in India where Russian rotorcraft are involved. The holding company and Elcom Systems also reached an agreement on plans to create a joint Helicopter Academy in India for the training of flight and technical personnel.
Vladimir Putin's visit to India resulted in the signing of a set of documents aimed at strengthening military-technical cooperation between Russia and India, including in helicopter manufacturing. India is a traditional buyer of Russia aircraft and presently has a fleet of 280 Russian-made helicopters.
Elcom Systems Private Limited, part of SUN Group, is a total solutions company specializing in manufacturing, marketing and support of Telecom, Security and Navigational Aids. The company has state-of-the-art manufacturing and testing facilities
SUN Group is a leading principal investor and private equity fund manager in Russia, India and other emerging and transforming markets. The founding shareholders of SUN are part of an Indian family group that has been active in India for more than 100 years and first started working with Russia in 1958. The Group has been active in areas such as Aerospace, Oil & Gas, Mining, Real Estate, Infrastructure, Food & Beverage, Technology, Aerospace & Defence and Renewable Energy.
Russian Helicopters, JSC is a subsidiary of UIC Oboronprom, which in turn is a part of Rostec. It is one of the global leaders in helicopter production and the only helicopter design and production powerhouse in Russia. Russian Helicopters is headquartered in Moscow. The company comprises five helicopter production facilities, two design bureaus, a spare parts production and repair facility, as well as an aftersale service branch responsible for maintenance and repair in Russia and all over the world. Its helicopters are popular among Russian ministries and state authorities (Ministry of Defence, Ministry of Internal Affairs, Emergency Control Ministry), operators (Gazpromavia, UTair), major Russian corporations. Over 8000 helicopters of Soviet/Russian make are operated in 110 countries worldwide. Traditionally the demand is highest in the Middle East, Africa, Asia-Pacific, Latin America, Russia, and CIS countries. Russian Helicopters was established in 2007. In 2011 its IFRS revenues increased 27.8% to RUB 103.9 billion. Deliveries reached 262 helicopters.
UIC Oboronprom, JSC is a multi-profile industrial and investment group established in 2002. It is a part of Rostec. Its main tasks include: helicopter engineering (Russian Helicopters, JSC) and engine-building (United Engine Industry Corporation managing company).
Rostec was established in 2007 to support Russian industry in developing, producing and exporting high-tech industrial products for civil and military use. The Corporation includes 663 companies, currently organised into 12 defence holdings and five holdings for civil industries. The Rostec companies has a presence in 60 of Russia's regions, and exports its products to 70 countries. More than 900 thousand employees work at the Rostec companies - that is 2% of capabale of working population of Russia. In 2011 the Corporation had net income of RUB 45,6 billion, and paid RUB 100 billion into budgets of all levels.