Egyptian Firm to Invest USD 280 Million in Manufacture of Tu-204 Planes

Egyptian company Sirokko Aerospace has invested USD 280 million in the construction of Tu-204 planes at the Ulyansk aviation works Aviastar. This announcement was made to Rosbalt's correspondent by the company's press service.

According to Valery Voskoboinikov, the deputy general director of the factory, the investment agreement was signed at the international air show currently taking place in the London suburb of Farnborough. Voskoboinikov added that 'this is the first serious foreign investment in the history of Russian aircraft manufacturing'. He also noted that foreign partners will help breathe new life into the Russian civil aviation fleet.

The Ulyanovsk factory has already received an order from the Egyptian company to construct 5 planes. In addition, deliveries are planned to China. The press service announced that talks are also taking place concerning the possibility of cooperation with Iran.