Single Russian aircraft-building company to be established within two years

MOSCOW. Feb 10 (Interfax-AVN) - It will take Russia about two years to establish a single national aircraft-building corporation, Deputy Prime Minister Boris Alyoshin told reporters on Tuesday.

"The company will be totally established within two years," Alyoshin said.

He said that at the present time documents on an aircraft- building holding company had been submitted to the Prime Minster for consideration.

According to him, the business community and the Russian Aviation and Space Agency have to an understanding with respect to establishing the company.

"Corresponding documents have been submitted to the government for consideration and will be considered in the near future," Alyoshin said.

According to him, the main obstacle consists in the fact that state-owned organizations have to merge with private companies. "The main difficulty consists in integrating these enterprises. It will not be right for the holding company to be a paper-tiger, while private enterprises control all assets," he emphasized.

He also noted that a decision on a step-by-step establishment of the holding company had been taken. According to him, at the first stage participants in the project will sign an agreement on establishing a consortium, merging all the participants and establishing a management system, in particular, in order to evaluate assets. "This evaluation will be aimed at assessing real assets and production capabilities of the participants. All these steps will be carried out by the managing company," Alyoshin said.