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Strategic Development Fund Agrees with Russian Helicopters to Unwind its Partnership to Develop Co-Axial Helicopters

 

Abu Dhabi, UAE: 17 November 2023 - Strategic Development Fund (SDF), an Abu Dhabi strategic investment firm, finalized and signed an agreement to exit and unwind Aeroter PTE LTD  its partnership with Russian Helicopters related to development of the VRT500 Helicopter and VRT300 UAV programs.
In November 2020, SDF and Russian Helicopters entered into a partnership in Singapore through Aeroter PTE LTD to develop the VRT500 single engine Co-axial helicopter and VRT300 Co-axial UAV which was being developed through its subsidiary VRT in Moscow.


Following the international crisis in early 2022, SDF paused any further investments in Russia to assure compliance with international sanctions. In addition, SDF initiated discussions and negotiations with Russian Helicopters to unwind the partnership, in order to have the option to continue the development programs independently in the UAE.


This announcement is based on an agreement signed in November 14th 2023 between the two parties, so SDF can continue to develop the program independently in compliance with international sanctions.

 


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 6560 times
PR Category : Government, Legal & Humanity
Posted on : Saturday, November 18, 2023  2:43:00 PM UAE local time (GMT+4)
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