U.S.-based company invests $150 million to resume production of An-74

U.S.-based Oriole Capital Group reached an agreement with Kharkiv State Aircraft Manufacturing Company of Ukraine to resume the production of the An-74.

By Oleg V. Belyakov – AirTeamImages [CC BY-SA 3.0, CC BY-SA 3.0 or GFDL 1.2], via Wikimedia Commons

Both sides signed the agreement at the Dubai airshow this week. Oriole Capital Group will invest $150 million for the “production, modernization, and sales of AN-74 aircraft.”

“This is a monumental step towards our common goals. The partnership between Oriole, UKRBORONPROM and Kharkiv State Aircraft Manufacturing Company transcends geographical boundaries to bring back to life one of the world’s most iconic and unique aircraft AN-74. We are delighted with the spirit of partnership and transparent cooperation that we have witnessed when working with Ukrainian enterprises. We look forward to realizing the potential of this exciting opportunity”, said Oriole Capital Group CEO Hossein Mousavi.