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Sukhoi, EBRD to sign loan deal at St. Petersburg economic forum

MOSCOW, June 8 (RIA Novosti) - Sukhoi Civil Aircraft, a subsidiary of the state-owned Sukhoi holding, and the European Bank for Reconstruction and Development (EBRD) will sign a loan agreement worth 100 million euros ($134 million) to finance production of the SuperJet-100 regional aircraft, the bank said Friday.

The document will be signed within the framework of the 11th St. Petersburg International Economic Forum, which will be held June 8-10 in Russia's second-largest city.

"The EBRD loan will be used to purchase equipment and modernize production capacity, and also to start serial production and sales of the aircraft," an EBRD Moscow branch official said, adding that the decision to grant the loan was made by the EBRD board last December.

The SuperJet-100 project is a family of medium-range passenger aircraft developed by the Sukhoi Design Bureau in cooperation with major American and European aviation corporations, including Boeing, Snecma, Thales, Messier Dowty, Liebherr Aerospace, and Honeywell.

Sukhoi plans to produce at least 700 RRJs, and intends to sell 35% of them to North America, 25% to Europe, 10% to Latin America, and 7% to Russia and China.

The company is expected to sign a number of other deals during the forum in St. Petersburg and exhibit a model of its new Super Sonic Business Jet, developed by the Sukhoi Design Bureau.

Earlier, Kirill Androsov, a deputy economic development and trade minister, said the economic forum in St. Petersburg is expected to produce deals worth $3.3 billion and gather 6,000 officials and businessmen from 60 countries, including 10 presidents, 11 prime ministers and 64 ministers.

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