The court rejected the Ministry of Industry and Trade’s claim against UEC for 11.3 billion rubles – Kommersant
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The Moscow Arbitration Court rejected the Russian Ministry of Industry and Trade’s claim for 11.3 billion rubles. to the United Engine Corporation (UEC, part of the Rostec state corporation). The lawsuit was filed on December 7, 2023.
In published on the court website materials the essence of the requirements was not explained. At the same time, the documents say that the defendant did not admit the demands and made arguments for the revocation.
According to RIA Novosti, the claim is related to the return of the subsidy issued by the plaintiff and the payment of a fine. The intended purpose of the subsidy was to finance coupon income payments on UEC bonds. The plaintiff explained the refusal of the agreement by a decrease in solvency.
UEC develops and services engines for military and civil aviation, space programs and the navy, oil and gas industry and energy. In 2016, the company began development of the PD-35 engine. 180 billion rubles were allocated for the program. In December 2022, the development deadline for the engine, which was supposed to be presented until 2027-2028, was postponed by several years. Deputy Prime Minister and head of the Ministry of Industry and Trade Denis Manturov said that the PD-35 engine could be created by 2030.
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