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Dubai Airshow 2017: Antonov to renew An-74 airlifter serial production

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World Defense & Security Industry News - Antonov
 
 
Dubai Airshow 2017: Antonov to renew An-74 airlifter serial production
 
Ukraine will renew the serial production of the flagman Soviet-designed An-74 aircraft, the country's defense conglomerate Ukroboronprom announced on Monday. The Ukroboronprom has reached an investment agreement worth 150 million U.S. dollars on the aircraft production with the U.S.-based Oriole Capital Group, the Ukrainian defense conglomerate said in a statement on its website.
     
Dubai Airshow 2017 Antonov to renew An 74 airlifter serial production 640 001An Antonov An-74 transport aircraft
(Credit: Antonov)
     
The deal was achieved during the ongoing 15th international exhibition Dubai Airshow in the United Arab Emirates, the statement said.

According to the agreement, Ukraine will launch the An-74 production at the facilities of the Kharkiv State Aircraft Manufacturing Company in eastern Ukraine.

For its part, the Oriole Capital Group will inject funds in the modernization and the production of the aircraft and ensure its sales.

"This investment agreement with the United States is extremely important for Ukraine. For the first time, the aircraft manufacturing company of our country has a powerful international investor who plans to provide consistent investments over a number of years. This demonstrates that UOP enterprises are reliable world-class partners, which guarantee high-quality and timely fulfillment of orders. In fact, it is a clear signal, "green-light", for other investors, considering opportunities for investing into Ukrainian high-tech industry. Oriole’s investment and operational support will significantly boost the country’s commercial manufacturing capabilities in the region and beyond, and presents a highly strategic opportunity to demonstrate the combined capabilities of a Ukraine-U.S. partnership”, said UOP Director General Roman Romanov, commenting on the agreements reached.

"This is a monumental step towards our common goals. The partnership between Oriole, UKRBORONPROM and Kharkiv State Aircraft Manufacturing Company transcends geographical boundaries to bring back to life one of the world’s most iconic and unique aircraft AN-74. We are delighted with the spirit of partnership and transparent cooperation that we have witnessed when working with Ukrainian enterprises. We look forward to realizing the potential of this exciting opportunity”, said Oriole Capital Group CEO Hossein Mousavi.

The An-74 multipurpose aircraft was designed by Ukraine's state-run aircraft manufacturing company Antonov in early 1980s. The East European country has manufactured 81 planes before the production was suspended in 2015.

The An-74 is a medium-sized aircraft capable of carrying up to 10 people in the transport version and 52 people in the passenger version.

The aircraft has a payload capacity of up to 10 tons with a maximum speed of 700 kilometers per hour. The market value of the plane is estimated at between 10 million U.S. dollars and 17 million dollars.