The goal is to fund the program for developing and creating a Russian short-haul plane (RRJ program, realized by the Sukhoi subsidiary ZAO Sukhoi Civilian Planes).
The sides have agreed upon joint or syndicated crediting of the ZAO Sukhoi Civilian Planes, including crediting against 2.7 billion-ruble (1 dollars equals 27.70 rubles) state guarantees, provided for in the Russian 2005 budget.
The RRJ plane has been on the drawing boards since 2002. Possible sales are estimated at 800 planes during ten years.
The plane, having a range over 2,000 kilometers, has a 75-seat modification, planned for assembly in Novosibirsk. The 95-seat modification will be assembled in Komsomolsk-on-Amur (Khabarovsk region in the Far East).
At the briefing after signing the agreement, Sukhoi general director Mikhail Pogosyan said that the program will be credited by the largest Russian banks and entry of Russian and foreign investors in the authorized capital.
Pogosyan did not rule out that the authorized capital of the ZAO Sukhoi Civilian Planes may also be joined by the biggest Russian banks with have today signed the agreement. Among other claimants is the Indian corporation HAL and a "strategic partner" which Pogosyan did not name.
The total volume of funding the project is about 700 million dollars, he said. "The money will go finance both the project and sales", he specified.
In 2006 it is planned to manufacture six planes for testing. The first supplies are scheduled for the end of the 2007-2008, the general director said.
The Vneshekonombank CEO Vladimir Dmitriev said that his bank is going to participate in the project together with its French partners, biggest banks of France. Sukhoi machines will be supplied to third countries, Dmitriev explained.
