Sunday, 20 December 2009

Russia Defence Industry

Prime Minister Vladimir Putin promised to pump almost $350 million into a tank plant as Russia eyes defence spending as a route out of recession.
Visiting the Uralvagonzavod plant in Nizhny Tagil last week, he pledged 10 billion roubles to aid the ailing factory which is heavily in debt despite controlling half the world market in armoured vehicles, Reuters reported.
But the plant, which employs 67,000 people, suffers from selling tanks to the Russian military at low prices and trying to recoup the losses by attracting lucrative overseas orders.

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