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20 Sep, 2010 12:11

Finmeccanica links up on helicopters

Italian industrial group, Finmeccanica, will link up with Russian Technologies to open a helicopter plant in Tomilino in the Moscow region.

Italy’s leading high technology manufacturer, focusing mainly on helicopters, defence and security electronics and aeronautics, is set to strengthen its business ties with Russia and build a helicopter plant together with Russian Technologies State Corporation.

Talking exclusively to RT at Sochi Forum, Finmeccanica Vice President, Giuseppe Antonio Fortunato, said the choice of the site was mostly driven by the desire to have the plant closer to the plants of noted Russian helicopter producers, with MIL Moscow helicopter plant located nearby.

Fortunato estimated the project at 30 million euro, with the parties investing 50/50.

“The plant itself will be around 30 million euro to be realized, but then it has to grow. It’s foreseen already a possible doubling of the plant, if the market will be on for the helicopters.”

Fortunato added that upon completion of the project in five years the partners hoped to attract 20-30% of the Russian market – in particular the offshore VIP transportation and utilities markets. He said Italy will bring in the technology, with the possibility of all components being Russian made in the longer term.

“We are bringing all the technology necessary to the assembly line and there will be gradual technology transfer. At the very beginning there will be just an assembling of the helicopters and then day by day more and more parts of the helicopter itself will be built in Russia.”

Fortunato added the project followed other Finmeccanica investments into Russia.

“The other investment that we have at this moment are the joint ventures that we are building with the companies of RZD Group to build together systems for the security and safety of the transportation on the railway and signaling systems of innovative generation for the most extended railway line in the world, which is Russian one. And here we are investing with Russian railways to create something new which can the railway market in the future.”