NOVIKOM and UEC signed a cooperation agreement at SPIEF 2024

Bank NOVIKOM, a subsidiary bank of the Rostec state corporation, signed a number of cooperation agreements with enterprises of the United Engine Corporation (part of the Rostec state corporation) for a total amount of RUB 38 billion. The signing took place during SPIEF-2024. The documents were signed by the Chairman of the Board of NOVIKOM Elena Georgieva and the General Director of ODK Vadim Badekha.

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According to the document, NOVIKOM can finance the current activities of the United Engine Corporation (UEC) and its largest enterprises: Ufa-Ufa Engine Production Association and the UEC-Aviadvigatel design bureau.

UEC specializes in the development, serial production and servicing of engines for aviation, space programs, marine fleet, oil and gas industry and energy.

“NOVIKOM Bank has been supporting high-tech industries throughout its history, one of the major players of which is the United Engine Corporation. This agreement is aimed not only at financing the corporation's projects, but also at contributing to the implementation of the national goal of achieving technological leadership in Russia,” noted the Chairperson of the Board of NOVIKOM, curator of the Voronezh regional branch of SoyuzMash Rossii LLC Elena Georgieva.

Last year, NOVIKOM and UEC signed an agreement on organizing financing for the corporation and its enterprises, including as part of the implementation of a comprehensive program for the development of the Russian air transport industry until 2030.

“Cooperation agreements with NOVIKOM Bank are another stage in the development of our time-tested partnership. The bank provides financial support for the implementation of large-scale UEC projects to create domestic aircraft engines. Their development and production is a priority for Russian civil aviation. Cooperation with one of the country's leading banks will contribute to the growth of serial production of engines and the creation of new jobs,” noted Vadim Badekha, General Director of UEC and member of the Central Council of SoyuzMash Rossii LLC.