Russian President Vladimir Putin signed a decree on handing some of the state-owned assets over to Uralvagonzavod, Lenta.ru refers to the Kremlin website as stating.

The shares of some companies currently owned by the state will become part of Uralvagonzavod’s authorized capital ‘in order to improve the structure’ of the company and ‘to develop its scientific, technological, and production potential’.

Among the assets the state is handing over to the plant are a 42.5% shareholding in Tver Carriage-Making Plant (TVZ), 100% minus one share of Tomsk Electro-technical Plant, a 21.82% shareholding in Yekaterinburg Plant No. 9, and a 15.8% stake in Yekaterinburg-based Ural Transport Machine-Building Plant.

Uralvagonzavod is also expected to receive a 47.49% stake in Nizhniy Novgorod-based Burevestnik Central Scientific Research Institute, a 14.76% stake in Chelyabinsk-based Electromachine, and a 10.71% stake in Moscow-based Engine Scientific Research Institute.