OREANDA-NEWS. August 21, 2009. In the course of the International Aerospace Salon (MAKS-2009) and in the presence of Russian Prime Minister Vladimir Putin State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, OJSC Sukhoi Company and CJSC Sukhoi Civil Aircraft entered into the following Agreements on strategic cooperation in civil and military aviation. These Agreements were signed by Vnesheconombank Chairman Vladimir Dmitriev and OJSC Sukhoi Company General Director Mikhail Pogosyan.

The Agreement on Strategic Cooperation in Civil Aviation with CJSC Sukhoi Civil Aircraft. The Agreement aims to promote long-term, effective and mutually beneficial cooperation between the parties in civil aircraft construction. Under the Agreement the parties intend to cooperate in raising funds to finance promising investment programs carried out by CJSC Sukhoi Civil Aircraft, expanding financing of the Sukhoi Superjet 100 program and in putting in place a competitive mechanism for financing sales of Sukhoi Superjet 100 aircraft on domestic and foreign markets with the use of various financial instruments (leasing, export financing and others). This system will be highly instrumental in implementing the strategy of promoting CJSC Sukhoi Civil Aircraft’s products.

The Agreement on Strategic Cooperation in Military Aviation between Vnesheconombank and OJSC Sukhoi Company. The Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation in military aircraft construction. Under the Agreement the parties intend to cooperate in raising funds to finance investment programs of OJSC Sukhoi Company and its subsidiaries, in research and development under the program of building the multifunctional Su-35 fighter plane and launching  batch production of Su-35.

The Agreement provides for Vnesheconombank as an authorized bank to participate in carrying out OJSC Sukhoi Company’s contracts on a top-priority basis. The Agreement would help to make the production of Russian military aircraft more competitive in military-technical cooperation.

Sukhoi Superjet 100 Passenger Aircraft was developed by CJSC Sukhoi Civil Aircraft in cooperation with Italian Alenia Aeronautica. The plane is designed to carry 98 passengers to a distance of up to 4.5 thousand kilometers. In May 2008, the plane made its maiden flight successfully. The program of developing and producing the Sukhoi Superjet 100 aircraft is included in the Federal Target Program “Development of Russian Civil Aircraft for a Period of 2002-2010 and for a period of up to 2015.

Su-35 is a deeply modernized, super maneuverable, multifunctional “4++” generation fighter. It employs fifth-generation technology making it superior to fighters of a similar class. Su-35 is designed to gain superiority in the air by destroying manned and unmanned aircraft with guided missiles at long, medium and short range while conducting near and long maneuverable air fights in individual and group actions. The plane is also designed to shoot at surface and ground targets under any weather conditions as well as at ground infrastructure facilities covered by antiaircraft defenses and located far from a base airfield. The Su-35 plane was developed in the Sukhoi Design Bureau. Batch production is being developed at the Gagarin Aviation Production Association (the city of Komsomolsk on the Amur).

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’was established in 2007 in accordance with the Federal Law “On the Bank for Development” on the basis of Vnesheconombank of the USSR. The Bank’s activity is aimed at overcoming infrastructure growth restrictions, modernizing and developing non-raw materials economy, high-technology industries, encouraging innovations and high-tech industrial exports.

OJSC Sukhoi Company is the largest Russian aviation holding. It incorporates a leading Russian design bureau – the Sukhoi Design Bureau, and batch production aviation plants. The Company performs a full cycle of work in the aviation industry from designing to effective after sales service. At present the Company is carrying out promising programs in military and civil aircraft construction. OJSC Sukhoi Company is a main company responsible for developing a new generation multifunctional fighter plane. “Su” battle fighter planes are at the forefront of the world’s weapons market and form the basis for Russia’s Air Force and tactical aviation of more than 30 states all over the world. OJSC Sukhoi Company is incorporated into the United Aircraft Construction Corporation.

CJSC Sukhoi Civil Aircraft is a subsidiary company of OJSC Sukhoi Company. It was founded in 2000 to implement the holding’s civilian projects. The Company’s pilot project is a program of creating a new family of Russian regional Sukhoi Superjet 100 aircraft.