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Home / News / Russian Navy News

Navy will get about RUR 5 trillions for modernization – Ivanov

Navy will get about RUR 5 trillions for modernization – Ivanov 22.03.2011
Text: Finmarket
Photo: Sergei Ivanov. ng.ru, Reuters
It is planned to appropriate about RUR 5 trillions for modernization of Russian Navy, said Vice Premier Sergei Ivanov at the press conference. "I do not oppose the sum of 5 trillions. It roughly corresponds to reality", he said. However, Ivanov could not answer whether or not this amount includes procurement of arms and equipment.

Vice premier also reported the federal target program for defense industry development provides appropriation of RUR 3 trillions, including RUR 1.8 trillions from budget. According to Ivanov, 60% of this sum is budgetary funds and 40% are invested by arms-producing companies, i.e. RUR 1.8 trillions and RUR 1.2 trillions respectively.

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