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United Engine Corporation, VTB Bank, and the Yaroslavl Region Government concluded an agreement on cooperation during the International Aviation and Space Salon MAKS 2017 in order to implement the "Industrial test site "Smart Factory Saturn" project.

In 2014, the National Technological Initiative aimed at the development of strategically significant industry sectors and the formation of the markets of the future was launched in Russia. In 2015, working groups were formed to create and develop these markets and the only cross-market technological group TechNet that works on the development of advanced industrial technologies was founded (with the support of Rybinsk JSC UEC-Saturn). On July 21, 2015, the Expert Council of the Agency for Strategic Initiatives presided over by Vladimir Putin, President of the RF, recommended the implementation of the project "The Factory of the Future". One of the project's objectives is to form the infrastructure for the development of the key competences complex in order to launch "the Factories of the Future" at the TechNet test site base, aiming to develop advanced cross-market solutions.

Two of the first test sites (SPbSTU and Saturn) are to be launched within the framework of the project and used as a base for support infrastructure and the development of "the Factories of the future" to ensure that by 2025, seven "factories" are created.

The agreement signed at the MAKS 2017 by Alexandr Artyukhov, General Director of JSC UEC, Andrey Kostin, President – Chairman of VTB Bank, and Dmitry Mironov, acting Governor of the Yaroslavl region, defines the basic principles of further development of cooperation of the corporation, the bank, and the region within the framework of the implementation of the project "The Factory of the Future" at Saturn. These include: creating the industrial and social infrastructure necessary for the successful implementation of the project; providing the resources needed; creating the best possible environment in terms of taxes (because of the significance of the project for the Yaroslavl Region as well as for the Russian Federation in general); introducing modern technologies of management and interaction between regional authorities, the financial sphere, and science and industry.

To ensure the successful implementation of tasks, UEC will, in accordance with the agreement, provide the territory with the necessary infrastructure, intellectual and labor resources and will act as the "anchoring" investor of the project. The Yaroslavl Region Government will provide a set of tax incentives, the necessary communications with the federal executive authorities, and will support the creation of social infrastructure around the industrial site. According to the agreement, VTB will consider providing credit resources and cutting-edge transactional and investment business instruments of the VTB Group within the framework of the project. If needed, the bank will also participate in the financial appraisal of the project and provide consulting service for the UEC on organizing the appraisal.

"The trilateral agreement we signed today is an important step towards the creation of "The Factories of the Future," stated Aleksandr Artyukhov, Director General of JSC UEC. "This project is of great importance not only for the United Engine Corporation but for the entire Russian industry, because introducing new technologies and learning advanced methods of production management is necessary in order to be competitive on the global level. Together with our partners, we will make every effort to create the test site for "The Factories of the Future" at such a multidisciplinary and innovative enterprise as UEC-Saturn."

At the signing ceremony, President – Chairman of VTB Bank Andrey Kostin noted that the agreement would facilitate the introduction of innovative solutions to the Russian industry, thereby developing a competitive base of domestic technological developments.

Press release issued by PJSC UEC Saturn on July 18, 2017


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