KYIV. Aug 12 (Interfax-AVN) - Ukraine's Motor Sich, one of the world's biggest manufacturers of aircraft engines and gas turbines, plans to put about 650 million hryvni ($82 million) into technical modernization this year, a company spokesman said.
The planned spending is part of the company's long-term technical re-equipment program, the spokesman told Interfax-AVN.
"Annually, Motor Sich's investments in re-equipment and development amount to amount 700 million hryvni," he said.
"The latest loan for these purposes has been obtained with support from PrivatBank the other day," he said, adding that the money would be used to buy imported metal-cutting equipment both for helicopter and for fixed-wing aircraft engines.
Motor Sich, which is based in Zaporizhzhya, exports its products to 106 countries, Russia being the destination of about 30% of its exports.