Russia to modernize defence industry
In a bid to bring the country’s industry up to western standards, the Russian government intends to boost support to companies working in the military sector.
A part of the measure will be a significant strengthening of the state corporation Rostekhnologii, an organisation established by former Russian president Vladimir Putin in November 2007, the Sankt Petersburg Times reports.
President Medvedev last month signed a decree authorizing 426 companies with a 50-percent state stake to merge with Rostekhnologii, which will work with harmonization of the fragmented sector of developing and producing new generation composite materials, the newspaper reports.
According to newly appointed leader of Rostekhnologies, Sergey Chemezov, the company’s main task will be to develop a particular part of the military industry that will later be the driving force for developing the civilian industry.
