Russian Government to offer Uralvagonzavod Corporation state protection

May 19, 2015. Russian Prime Minister Dmitri Medvedev is going to ask the Russian Industry & Trade Ministry to consider offering state guarantees and protection to Uralvagonzavod Scientific & Production Corporation, the company’s press service reports.

‘I intend to ask the Industry Ministry and the government officials to consider providing your company with state guarantees to the extent that is necessary to make sure existing contracts are met, especially the contracts relating to production of civil-purpose railway carriages,’ the corporation quotes the Prime Minister as saying.

The corporation’s representatives are positive that these guarantees will have a great impact on the staff morale and the machine-building concern’s overall activity.

Uralvagonzavod Corporation’s Director-General Oleg Sienko says it is also essential that the Foreign Trade Bank (VEB) supports the export of the company’s produce, all of which is manufactured in Russia.

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