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Sergei Chemezov, the chief executive of Rostec, said that work was expected to start on the long term project next year and could lead to the eventual assembly of the aircraft in the UAE. Mona Al Marzooqi / The National
Idex 2017: UAE and Russia to develop fighter jet
Sean Cronin
February 20, 2017 Updated: February 20, 2017 07:38 PM
Russia has reached an initial agreement to develop a light fighter aircraft with the UAE, the chief executive of Russia’s largest military complex said on Monday.
Sergei Chemezov, the chief executive of Rostec, said that work was expected to start on the long term project next year and could lead to the eventual assembly of the aircraft in the UAE.
"We have agreed to work on the development of this aircraft," Mr Chemezov told reporters at the Idex exhibition in Abu Dhabi on Monday.
Rostec is a sprawling conglomerate that comprises 700 organisations held by 14 holding companies. Nine of these are in the military and industrial sectors — the most famous of which is assault rifle maker Kalashnikov.
The aircraft is expected to be a variation of the MiG-29 fighter jet.
Mr Chemezov said that the weaker oil price had not significantly affected the regional order pipeline.
"Of course it impacts everybody because mainly the revenues here are based on oil and gas but so far we don’t feel any reduction or slowdown. The weapons market has not reduced considerably."