7 Sep 2011 17:52

Ural Optical & Mechanical to invest bln rubles by 2016

YEKATERINBURG. Sept 7 (Interfax) - The Ural Optical & Mechanical Plant (UOMZ) plans to invest about 140 billion rubles in production development in the period to 2016, company general director Sergei Maksin told Interfax.

Some of the money will come from the federal budget, and the remainder needed to implement the investment program will be drawn from the company's own funds, he said.

Maksin did not specify what projects would be carried out under the investment program.

UOMZ, which is wholly owned by Russian Technologies, is one of Russia's leading developers and manufacturers of optoelectronic devices for military and civilian applications. The plant exports to 75 countries.