July 25, 2014. An offsite meeting dedicated to the development of defense industry took place at Burevestnik Central Scientific Research Institute (a member enterprise of Uralvagonzavod Corporation) on July 23. The meeting was chaired by acting Nizhniy Novgorod Region Minister for Industry & Innovations Valdimir Nefedov and was attended by Director-General of Nizhniy Novgorod Association of Industrialists & Entrepreneurs Valeriy Tzybanev, the corporation’s press service reports.

According to DG Burevestnik Georgiy Zakamennykh, the enterprise has been gradually increasing its production potential. Some 15,000 sq m worth of new production sites and several scores of modern machines have been launched over the last three years alone. The institute invests at least 1bn RUR in production development every year, with the same economic effect in terms of production output growth.

The company is currently implementing the second stage of its reconstruction program. This stage comprises the construction of a new production building (to be commissioned in 2017) and a production and procurement building in Fedoseyenko St (to be completed in 2015). Once these facilities have been launched, the company expects to raise its production output by 2.5 to 3 times by mastering a new range of products. The first new product samples will be presented in the course of the Victory Day Parade as soon as next year.

In his turn, Vladimir Nefedov added that 50% of the money needed to finance these reconstruction stages come from the company’s own funds.