OREANDA-NEWSRussian Helicopters Holding agreed with the Tawazun fund from the UAE on the conditions for the entry of an Arab company into the capital of its VR-Technology design bureau. The Russian Helicopters report says that Tawazun will buy half of BP Technology's shares, with the deal scheduled to close as early as 2020.

“As equal partners, we plan to invest at least € 400 million in the development of BP Technologies, which will help make the company's products competitive and in demand all over the world”, the Russian Helicopters press service quotes the words of the holding’s director general Andrei Boginsky. According to Rostec CEO Sergei Chemezov, investments by an Arab partner will give a new impetus to BP Technologies, which is developing promising helicopter and unmanned vehicles, including speeding up the project to create a light multi-purpose helicopter VRT-500.

The VRT-500 mockup was presented at the Dubai Airshow 2019 international airshow, which opened in Dubai, at the joint exhibition of Russian Helicopters and Tawazun. The Russian Helicopters website notes that the VRT-500 is supposed to be manufactured in passenger, multi-purpose, cargo, training, VIP and medical evacuation configurations.