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VTB will support the high-capacity turbine GTD-110M development program and other UEC projects

Site news 18.07.2017

Zhukovsky, July 18, 2017
Press-release

United Engine Corporation (a Rostec State Corporation company) and VTB Bank have concluded an agreement which includes but is not limited to the participation of the bank in financing the program of development of the first Russian high-capacity power-generating gas-turbine engine GTD-110M and localization of the production of high-pressure parts for SaM146 engines installed on Sukhoi Superjet 100 (SSJ100) airliners in Russia.
The agreement was signed during in Zhukovsky the International Airhow MAKS-2017. Alexander Artyukhov, UEC Chief Executive Officer, and Valery Lukyanenko, Deputy President and Chairman of VTB Bank Management Board, put their signatures to the document.  
The subject of the agreement is the identification of the main tendencies of mutual interest for further development of cooperation and coordination between UEC and VTB. Among them is the participation of the bank in the financing of: a production organization program for the annual release of at least 6 new upgraded power-generating turbines GTD-110M within the framework of the import substitution program; programs of technical re-equipment  of UEC subsidiaries, including involvement in the credit financing of projects within the National Technology Initiative; the program of localizing the production of HP parts of turbofan  SaM146 engines in the territory of Russia; development work and batch production of PD-14-family engines; technological modernization of EUC companies for the manufacture of TV7-117-family engines; development and introduction of integrated management systems based on modern information technologies in holding companies.

“This agreement continues the existing positive history of UEC and VTB Bank cooperation, – says Alexander Artyukhov. – I am sure it will promote the successful implementation of a number of strategic projects in engine-building”.

UEC and VTB are going to develop cooperation in such fields as settlement and cash services for the corporation, improvement and development of the system of its international and internal payments, credit financing of current and investment activities, rendering of consultation and information services in banking and financial sectors, etc.

 “The cooperation of VTB and UEC has a long history, – points out Valery Lukyanenko. – The strengthening of partnership in advanced and innovative projects of the corporation lays a foundation not only for the successful growth of the company’s business for many years to come, but also has a favourable effect on the competitiveness of domestic machine-building on the Russian and world markets”.

GTD-110M with a capacity of above 110 mW is a single-shaft gas turbine designed for application in high-capacity gas-turbine power-generating and combined-cycle plants. It is the result of heavy upgrade of the gas-turbine engine GTD-110. Currently Russia has no batch production of domestic gas turbines with a capacity of above 110 mW. The work at the GTD-110M project is being carried out by Gas-Turbine Technologies Engineering Centre - a joint venture which includes Inter RAO, Rusnano, and UEC-Saturn as the manufacturer of the turbine (UEC-Saturn is a UEC company located in Rybinsk, Yaroslavl Region). The creation of GTD-110M is a strategic project implemented within the framework of the import substitution program as related to gas-turbine technologies with strong support from the Ministry of Industry and Trade of the RF and Rostec State Corporation. At the moment UEC is testing GTD-110M.

SaM146 is an integrated power plant which includes an engine and a nacelle with a reverser. SaM146 is delivered and after-sale service is provided by PowerJet (a joint venture based on the principles of equal partnership between Safran Aircraft Engines and UEC). UEC is in charge of the development and manufacture of the fan and the low pressure compressor, the low pressure turbine, SaM146 engine assembly and tests and Safran Aircraft Engines is responsible for the high pressure compressor, the combustion chamber, the high pressure turbine, the accessory gear box, the Automatic Control System, and PPS integration.

The current accumulative running time of the SaM146 PPS fleet exceeds 600 thous. flight hours. The engine is operated successfully both by a number of Russian airlines and abroad.  The largest foreign operators are Mexican Interjet and Irish CityJet. The engine dispatch reliability is 99.9%.
Earlier this year Marc Sorel, PowerJet President, stated the JV was ready to consider the possibility of SaM146 HP core localization in the RF.

United Engine Corporation (JSC) (a Rostec State Corporation company) is an integrated organization specialized in the design and development, serial production and after-market support of engines for military and commercial aviation, space programs, the Navy as well as for the oil and gas industry and power generation. One of UEC’s prioritized fields of activity is the implementation of comprehensive programs of development of the industry’s companies by introducing new technologies meeting the world-class standards.

Rostec State Corporation is a Russian corporation established in 2007 in order to facilitate the development, manufacturing and export of high-technology industrial products of military and commercial application. The corporation comprises more than 700 companies, which form 11 defense-industrial and 3 civil industry holdings as well as more than 80 direct control companies. The Rostec portfolio spans such renowned brands as AVTOVAZ, KAMAZ, Kalashnikov Group, Russian Helicopters, VSMPO-AVISMA, Uralvagonzavod and others. Rostec’s subsidiaries are located in 60 regions of Russia and deliver their products to over 70 countries worldwide.  Rostec' s consolidated revenue in 2016 reached 1 trillion 266 billion rubles, the consolidated net profit — 88 bln rubles, and EBITDA — 268 bln rubles. The average salary of the Corporation in 2016 amounted to 44 000 rubles. Following Rostec's new strategy, the major objective of the Corporation is to ensure the technological advantage of Russia on competitive world markets. One of Rostec’s key tasks is the introduction of a new technological structure and digitalization of Russian economy.


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