Ukraine will receive from China $ 100 million. for the purchase of shares of “Motor Sich”

The Chinese company Xinwei Skyrizon Aircraft and Technology Group in the case of obtaining permission of Antimonopoly Committee to purchase more than 50% of shares of “Motor Sich” will provide the aircraft industry of Ukraine grant funding in the amount of $ 100 million.

About this informed the Agency “Interfax-Ukraine” an informed source in the government.

Украина получит от Китая 100 млн долл. за покупку акций «Мотор Сич»

“The receipt of these funds in a special Fund provided for by paragraph 9 of article 11 of the law on state budget of Ukraine to 2019 — UAH 2.8 bn at the exchange rate at the time of the adoption of the state budget”, — said the Agency interlocutor.

He noted that this condition is one of the key agreed in the government agreements between the Chinese investors and “Ukroboronprom” together with the transfer of the Ukrainian state Corporation of a blocking stake of more than 25% of the shares with the purpose of joint management of “Motor Sich”.

The source recalled that the project on the development of aeroengine production in Ukraine and construction of SKD production in the Chinese city of Chongqing was launched in 2015 on the basis of agreements on cooperation with “Motor Sich”, Skyrizon and Xinwei Group.

In the framework of the Ukrainian company in 2016 has already received a preferential loan funding in the amount of $ 100 million, and in Chongqing to date, started construction of Assembly plants.

The basic project document is the cooperation agreement of 27 April 2018 between Ukraine in the face of “Ukroboronprom” and groups of companies Skyrizon and Xinwei, the last independent assessment by British law one of the world’s largest law firms, said the Agency interlocutor.

According to him, on 7 June this year, the AMCU has submitted a joint statement on behalf of the state of Ukraine in the face of “Ukroboronprom” and Chinese companies Skyrizon and Xinwei concentration respectively over 25% and 50% of shares of “Motor Sich” for joint management and control over the enterprise.

Then on June 19 signed the main package of contracts, which will come into force automatically on the basis of the positive decision of the Antimonopoly authority, which he also sent to the study, the source added.

AMC in early July reported on the opening of business on the concentrations of its in-depth study and receive comments and suggestions until 22 July, but the final decision is not yet available.

Napomnim that “Motor Sich” — one of the world’s largest manufacturers of engines for aircraft, and industrial gas turbines.

“Motor-Sich” is controlled by people’s Deputy Vyacheslav Boguslayev.