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Moscow and Ankara have almost finished discussing the technical side of the contract for S-400

06/04/2017

Ministries of Finance of the RF and Turkey are discussing the possibility of providing Ankara loan for the purchase of S-400. Russia and Turkey have almost agreed on all technical aspects of the deal on supplies of S-400 missile systems, according to CEO of Rostec Corporation Sergey Chemezov.

 

 

 

 “As for the S-400 system, the discussions are going on, all the technical issues have already been agreed on, the current discussions refer to the financial issues, the Turkish side is seeking to get loan,” Chemezov stated during the briefing at the SPIEF 2017.

 

 

 “I know that this issue (of the loan) was raised at the intergovernmental level, because only the government can give loan under the intergovernmental agreement. I know that the Russian and the Turkish Ministries of Finance did negotiate on this, but I am not aware of the outcome of the negotiations,” said the head of Rostec.

 

 

He did not answer the question on the number of S-400 sets Turkey wants to purchase. “The contract is not yet signed, so we are not going to discuss this issue yet,” said Chemezov.

 

 

Rostec State Corporation is a Russian corporation founded in 2007 to promote the development, production, and export of high-tech industrial products for civil and military purposes. It is comprised of more than 700 organizations, whereof 11 holding companies presently operate in the military-industrial complex, 3 organizations are in civilian industries, and more than 80 are direct control organizations. Rostec's portfolio includes famous brands such as AVTOVAZ, KAMAZ, Kalashnikov Concern, Russian Helicopters, VSMPO-AVISMA, Uralvagonsavod, etc. Rostec companies are located in 60 federal subjects of the Russian Federation and supply products to the markets of over 70 countries. In 2016, Rostec's consolidated revenues reached RUB 1,266 billion, its consolidated net income equaled RUB 88 billion, and the EBITDA was RUB 268 billion. The Corporation's average wage in 2016 was RUB 44,000. According to the strategy of Rostec, the main objective of the Corporation is to provide Russia with a technological advantage on highly competitive global markets. One of the key objectives of Rostec is to integrate a new technological mode and digitize the Russian economy.

Date: 
06/04/2017
Companies & Organizations: Rostec
Defense Products & Services Sectors: 
Countries: 
Sources of Information:  Rostec

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