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22 March 2013
Signing of the Agreement on production of the heavy drilling rigs in the  Russian Federation

Signing of the Agreement on production of the heavy drilling rigs in the Russian Federation

The Agreement on production of the heavy drilling rigs in the Russian Federation between founders of “Honghua CIS” Co., Ltd – OJSC VTB Leasing, Scientific and Production Corporation “Uralvagonzavod” (OJSC “SPC “Uralvagonzavod” and Honghua Group Limited was signed on March 22, 2013 in the presence of the Deputy prime-minister of Government of the Russian Federation Mr. Dmitry Rogozin and Deputy prime-minister of State Council of People’s Republic of China Mr. Van Yang.

On behalf of OJSC VTB Leasing the Agreement was signed by its General Director Mr. Andrey Konoplev, on behalf of OJSC “SPC “Uralvagonzavod” by its General Director Mr. Oleg Sienko and on behalf of Honghua Group Limited by its Chief Vice President Mr. Yuan Hai.

In accordance with the signed Agreement the parties agreed to produce 28 heavy drilling rigs echelon type in the joint venture during the period of 2013-2014. The planned value of sales revenue will be more than 13 billion rubles. The parties have agreed to develop a set of actions for the localization of production of up to 100% metal structures and up to 50% of components base drilling rigs in the territory of the Russian Federation.

Within the framework of the signed Agreement the parties have also agreed to arrange the financing of the production, to provide the production facilities, qualified technical staff and to arrange support during the certification process.

For additional information:

OJSC VTB Leasing was established in 2002. It is the largest Russian leasing company which offers a wide range of services throughout the territory of the Russian Federation and abroad. The main activities are large and medium size transactions in the railways segments, aircraft and machinery sectors.

OJSC “Scientific and Production Corporation “Uralvagonzavod”Russian corporation which is the head the integrated structure combining more than 30 industrial enterprises, institutes of scientific research and design bureaus in Russia and Europe. The corporation is engaged in the development and production of military equipment, road construction machinery, railway cars.

CJSC Honghua Group Limited - is the multi-national corporation which is producing petroleum equipment. It was established in 1997. Today it is the largest world manufacture of land drilling equipment. The company’s specialization is researching, engineering, production of oil drilling rigs, on shore and offshore oil production and exploration.

“Honghua CIS” Co., Ltd was established in September 2012. Foundres are OJSC VTB Leasing, OJSC “SPC “Uralvagonzavod” and Honghua Group Limited. Main activity is the production of drilling equipment, spare parts and accessories, maintenance services. Production facilities are located in the territory of OJSC “Machine building company “Vityaz” (part of “UVZ” group) in Ishimbai city.


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