MOSCOW. March 24 (Interfax-AVN) - The Motor Sich air engine building company form Ukraine's Zaporizhzhya has invested about $500 million in the past 15 years into modernization of its manufacturing capacities, company's Deputy Director General Volodymir Semyonov told Interfax-Military News Agency Monday Friday.
"The enterprise spends annually up to 50% of its profits, which is $20-30 million, for the purpose, while for the last 15 years it has invested a total of almost $500 million in this," he said.
According to him, the enterprise has undertaken an unprecedented modernization of its manufacturing lines.
"The expenditure for the modernization is in our opinion a sign of stability. We are able to produce air engines using most state-of-the-art technologies now," he said and added that Motor Sich was the first in Ukraine to introduce six-coordinate machines of Swiss and British origin into its production lines.
The company is going to build D-27 engines to propel short takeoff/landing An-70 military transports, to be assembled jointly by Russia and Ukraine.