The owners of Orsha Aircraft Repair Plant have invested over $13 million in the enterprise within a year.
14/12/20120 views
December 14. Vitebsk /Diana Kurilo - BELTA/. The owners of Orsha Aircraft Repair Plant Open Joint Stock Company have invested over $13 million in the enterprise within a year, as reported to BELTA correspondent by Vladimir Troitsky, Director of Orsha Aircraft Repair Plant OJSC.
The funds were allocated for technical re-equipment. Furthermore, thanks to the strategic investor, Motor Sich Public Joint Stock Company of Ukraine, the enterprise is implementing a modernization program for Mi-8T helicopters, involving the installation of new fifth-generation engines with enhanced technical characteristics, improved fuel efficiency, and a longer service life. According to Vladimir Troitsky, it was precisely due to this engine that a Mi-8MSB helicopter reached an altitude of 8.2 thousand meters for the first time in October 2012, thereby setting a world record for this type of helicopter.
In 2013, Orsha Aircraft Repair Plant will intensify its foreign economic activities. The order portfolio from foreign partners is practically formed.
Alongside production activities, investors are channeling funds into the development of the social sphere of the enterprise and the settlement of Bolbasovo, where the enterprise is located. The reconstruction of the first dormitory is nearing completion, and in 2013, the renovation works on the second dormitory will be finished. This year, investors directed approximately Br500 million towards the reconstruction of the House of Culture in Bolbasovo.
At the end of December 2011, the state divested its ownership by selling shares of Orsha Aircraft Repair Plant Open Joint Stock Company to strategic investors – Systems of Investments and Innovations Closed Joint Stock Company (Belarus) and Motor Sich Public Joint Stock Company (Ukraine). Systems of Investments and Innovations CJSC became the owner of 1,488,171 shares, while 2,232,256 shares (approximately 60%) were sold to Motor Sich PJSC.
Investors have committed to investing at least $12 million in the reconstruction and modernization of production facilities and creating over 300 jobs within the period of 2012-2016. Additionally, within two years from the date of signing the investment agreement, the new owners of the enterprise are to carry out the reconstruction of two dormitories of Orsha Aircraft Repair Plant, and also allocate approximately Br20 billion over five years for the socio-economic development of the settlement of Bolbasovo.
The Orsha Aircraft Repair Plant was established in 1941. At the end of 2009, the enterprise was joint-stock. The plant holds a certificate from the Aviation Register of the Interstate Aviation Committee, which attests to the Orsha Aircraft Repair Plant's compliance with the requirements of Aviation Regulations, standards and recommendations of ICAO, international ISO standards of the 9000 series, as well as JAR-145 and EAR-145 regulations. Furthermore, the plant holds a certificate from the Russian Federal Aviation Regulations FAP-145R for the right to perform overhaul repairs of the Mi-8 helicopter. Over 500 people are employed at the aircraft repair plant. The production growth rate in comparable prices in January-November 2012 compared to the same period in 2011 was 132%.
PJSC "Motor Sich" is one of the world's largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to 120 countries worldwide. Approximately 30% of the enterprise's total export volume is accounted for by the Russian Federation. "Motor Sich" meets more than 80% of the Russian Federation's aviation industry's demand for helicopter engines. -0-
BELTA