06:10 GMT +318 July 2019
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    Rostec state corporation

    Russia's Rostec Subsidiary to Invest $200 Mln in Development of New Weaponry

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    The High Precision Systems company, which makes part of Russia's state technology corporation Rostec, will invest about 13 billion rubles ($202 million) in development of new types of armaments by 2020, the holding company's director-general Alexander Denisov said Wednesday.

    TULA (Sputnik) — High Precision Systems is engaged in development and production of high-precision weapons, parts and components. Rostec was established in 2007 to promote the development, production and exports of high-tech industrial products for the civil and defense sectors.

    "The holding company's investment program for 2016-2020 includes considerable own funds for promising developments and formation of the required scientific and technical groundwork. It is about 13 billion rubles," Denisov said at a conference on creation and use of high precision weapons systems.

    High Precision Systems, Rostec
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