KAZAN. Feb 6 (Interfax-AVN) - A vast modernization program has been launched at the Kazan Helicopter Plant, an element of the Russian Helicopters Holding, Plant First Deputy General Director for Science and Technology Igor Bugakov told reporters.
"Some 11 billion rubles will be invested in the Kazan Helicopter Plant's modernization before 2017," he said.
"The allocations will amount to approximately 1.5 billion rubles in 2013," he added.
Most of the investments are the plant's own money, and the budget will allot approximately 170 million rubles this year under the federal target program of the defense industry's development.
"Funds assigned under the federal target program of the defense industry development will grow in 2014 to over 2.5 billion rubles," Bugakov said.
The program is planned for the period until 2020 and linked with the 2020 state armament program.
The Kazan Helicopter Plant serially produces Mil Mi-17 (8) midsized multirole helicopters of various modifications and Ansat light helicopters. It also takes part in the creation of a new-generation helicopter, Mil Mi-38.