Oboronprom to boost contract portfolio to $21bln by year end

Russia’s state-owned United Industrial Corporation (Oboronprom), which produces helicopters, aircraft engines and air defense systems, plans to sign contracts worth a total of $21 billion by the end of 2011, chief executive officer Andrei Reus told reporters on Tuesday.

“By the end of the year we must achieve the figure of 620 billion rubles or $21 billion,” said Reus, adding that Oboronprom’s current contract portfolio amounted to 430 billion rubles.

In 2010, company revenue amounted to 192 billion rubles, in 2009 to 137 billion rubles.

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