The government approved the rules of granting state guarantees of ODK

© RIA Novosti / Viktor Tolockiene the Government House. Archival photoThe government approved the rules of granting state guarantees of ODK© RIA Novosti / Viktor Tolochko

The Russian government approved the rules of granting state guarantees of bond loans of the United engine Corporation (UEC) for the production of Aero engine family PD-14, the document posted Saturday on the website of the Cabinet.

Earlier it was reported that JDC in the years 2017-2025 plans to invest 21.9 billion rubles in modernization of production for the preparation of serial production of PD-14 aircraft engine.

«The program of state guarantees for 2017 and the planning period of 2018 and 2019 provision in 2017, JSC «UEC» guarantees totaling up to 899,2 million rubles. The resolution approved the rules for granting in 2017, state guarantees of bond loans of JSC «UEC» for financing of works on organization of serial production of engine parts and engine nacelles of polymer composite materials for advanced aircraft engine family PD-14″, — stated in the message.

It is noted that guarantees are given to secure the performance of obligations on payment of bond nominal value in the amount up to 100% of liabilities. In accordance with the issue terms of the bonds, the term of the obligations occurs after January 1, 2020.

«Rules, in particular, defines the conditions of occurrence of a guarantee event, the grounds of revocation and termination of state guarantees, the main provisions of the agreement on their provision, direction, consideration of documents and decision-making on granting of state guarantees. Also establishes requirements for the composition of the documents necessary for decision-making, Contracting and the provision of state guarantees», — stated in the message of the Cabinet.

The resolution aims to facilitate the production and sales of aircraft engines PD-14 for the prospective passenger aircraft MS-21.

ODK — integrated company specializing in the development, serial production and maintenance of engines for military and civil aviation, space programs and the Navy, as well as oil and gas and energy industries. One of the priority directions of activity is the implementation of integrated programmes for the development of enterprises in the industry by introducing new technologies that meet international standards.

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