Oriole Capital Group and Ukroboronprom signed an agreement for investments worth USD 150mln to be allocated for the serial production of An-74 aircraft at the Kharkiv State Aircraft Manufacturing Company in Eastern Ukraine. The plant will receive an order for different versions of the aircraft.
The existing production facilities of the aviation factory will be modernized thanks to the investment agreement. More than 3,000 specialists from the Kharkiv enterprise will be involved, and the aircraft and avionics modernization program will be implemented contributing to the unique operational capabilities of the An-74 aircraft.
In addition, Kharkiv State Aircraft Manufacturing Company will carry orders for the production of spare parts, maintenance, and training of the pilots. Therefore, the agreement between the companies implies a long-term cooperation.
This is a monumental step towards our common goals. The partnership between Oriole, UKRBORONPROM and Kharkiv State Aircraft Manufacturing Company transcends geographical boundaries to bring back to life one of the world’s most iconic and unique aircraft AN-74. We are delighted with the spirit of partnership and transparent cooperation that we have witnessed when working with Ukrainian enterprises. We look forward to realizing the potential of this exciting opportunity”, said Oriole Capital Group CEO Hossein Mousavi.
