• Defense industry
  • Oil industry
  • Nuclear Industry
  • Gas industry

Glavproektkomplekt LLC is a modern engineering company that implements projects in oil, gas, chemical, nuclear and defense industries in Russia.

Founded in 2009, our organization has acquired extensive experience in cooperation with major representatives of the Russian fuel and energy complex.


            News

Andrei Kostin, the head of VTB Bank, shared his plans for the future of foreign currency in the Russian Federation. During the Eastern Economic Forum, Kostin, who is ranked one of Russia's most prominent bankers, suggested legal addresses of Russia's largest holding companies should be transferred under Russia's jurisdiction. According to him, foreign registrations of Russian legal entities makes the fulfilment of subsequent tasks more complicated. Kostin pointed out the need to place Eurobonds on Russian platforms and abandon the primary depository in the form of Euroclear. Many experts believe that such suggestions would take Russia towards self-isolation.The head of VTB also pointed out the need for all participants of the stock market to adhere to "unified rules." Some assumed in Russia that Mr. Kostin thus wanted to punish the Americans for the sanctions that they had imposed on him. In a nutshell, Andrei Kostin offered President Putin a plan to refuse from the US dollar. The plan is not very original: Kostin suggests making Russia an outcast country, in which dollar settlements would be excluded. Iran and Venezuela had taken such measures for their economies some time ago, but neither Iran nor Venezuela have showed an economic breakthrough yet. Quite on the contrary, the two nations suffer from declining national currencies and a plethora of restrictions. Some suggested Mr. Kostin could go to Venezuela or Iran to learn a few lessons there. Earlier, Andrei Kostin caused quite a stir in Russia, when he said that Russian citizens' dollar deposits could be converted at market value into rubles.Experts were more restrained in their assessment of Kostin's suggestion. Maksim Shein, the chief investment strategist of BCS, told Pravda.Ru that it makes no difference what currency banks choose to return deposits to clients - the most important thing is to have foreign currency deposits converted into rubles at market value.  The problem of Andrei Kostin's statements and reactions to them is about the radical presentation of such information. It is clear to all in Russia that the national market will grow increasingly national and ruble-oriented against the backdrop of sanctions and Russia's course to economic sovereignty. Mr. Kostin tries to hold common people accountable for the economic crisis in the country. Many people in today's Russia still remember the attitude to foreign currency in the USSR. However, the Soviet Union used to have a developed social system. All the recent moves of the Russian authorities in relation to the retirement age indicate that Russia is taking a sharp liberal turn in economy. Currency restrictions do not fit into liberal reforms. Clearly, Russian banks need to develop and grow under the conditions of economic and financial restrictions, especially when President Putin talks about the need for a major economic breakthrough. The people, however, are not happy about the fact that the breakthrough is going to be made at their expense. This gives rise to panic and scathing comments about Mr. Kostin and his suggestions. It is wort mentioning that the amount of transactions signed within the scope of the Eastern Economic Forum in Vladivostok totalled nearly three trillion rubles. Perhaps it is too early to put a cross on the Russian economy and expect dark years to come. Also read: Russian government prepares to get rid of US dollar in economy   
President Vladimir Putin and Prime Minister Dmitry Medvedev have played the game of bad cop and good cop in their efforts to explain the essence of the pension reform to the people of Russia. Putin's behaviour in relation to the prime minister looks unethical, just as it looks wrong in relation to his electors. It appears that Putin may eventually lose control of the patriotic idea - the only idea that still helps him stay in his office. After the president's televised address to the nation on August 29, it became clear that it was Putin who initiated the pension reform in Russia. This is evidenced by his harsh affirmation about the lack of alternatives to the reform. Until recently, however, Putin tried to distance himself from his government, which he had allegedly commissioned to develop and implement the unpopular reform. As a result, Medvedev failed to handle the psychological burden and disappeared from the public eye for a while. When he reappeared in front of the cameras, one could see him as a tired and sick person.Putin is being unethical towards his voters as well. Putin's voter is commonly known in Russia as "vatnik", who values Putin's achievements in building the Russian world, limiting the influence of American globalism and oligarchic structures.During the above-mentioned speech, Putin referred to experts twice without naming them. Apparently, it goes about Alexei Kudrin, experts of the Higher School of Economics - liberal, pro-Western people, whom Putin's voters despise. Thus, Putin has shown disrespect to his electors in a hope that people are ignorant and they do not need to know any names. Addressing the nation with his speech, Putin said: "Even if we sell all buildings of the Pension Fund, the money will be enough only for a few months. And then what?" However, we understand that it goes about all the knick-knacks, apartments and plots of land that our fat officials, MPs and oligarchs have. Putin clearly gave it to understand that he would never rip epaulettes off their shoulders. As a matter of fact, we do not understand now what makes Putin different from late Boris Yeltsin, who also entrusted everything to "Chicago boys" and plunged the country into chaos. We can see Putin threatening us now that the system will not have money for pensions in six or seven years if everything remains the same. The first reason for the looming crisis, as Putin says, is demography. "In 2005, the ratio of working citizens, who replenish the Pension Fund regularly, and citizens receiving old-age insurance pensions, is nearly 1.7 to one, but in 2019,  it will be 1.2 to one," Putin said noting that life expectancy in Russia had increased by eight years.The trend is the same in Western countries. Robots continue to replace humans depriving them of jobs, but the pension system in the West is far from collapsing. In Western countries, the pension fund gets replenished through the growth in people's wages and, accordingly, deductions to the budget. The most surprising thing is that such a system works identically in Russia too, although officials tend to conceal it in order to speculate on the topic of who feeds whom. Thus, the average Russian citizen during his work service of 20 years and an average salary of 40,000 rubles gives away about 2.4 million rubles to the Pension Fund. Russian male pensioners live for an average of eight years, during which they receive back only 1.600 million, and the state keeps the remaining 800,000 rubles in the budget. No one knows what that money goes for, although it is obvious that the state wants to take and spend even more. It is worthy of note that when speaking about the growth, Putin refers to Russia during the 1990s. Why not compare indicators of the year 2018 to 2014, when the West started imposing sanctions on Russia one after another, and the Russian economy started rolling down the hill?Putin dismisses all alternative proposals for financing the Pension Fund. He did not mention the amendment on the progressive scale of taxation, although there was such a proposal made at the hearings in the State Duma on August 21. That money could be used to compensate entrepreneurs for their contributions to the Pension Fund to support people of pre-retirement age.Putin does not want to attract oil revenues to finance the Pension Fund either. According to him, this money will not be enough to pay pensions for as little as two months. Yet, oil revenues constitute a supplementary, rather than the only source of income for the Pension Fund. "What if oil prices go down?" Putin says. Indeed, the government would then need to find a way to increase tax collection from other sources.For comparison, the deficit of the Pension Fund in 2018 will amount to 257 billion rubles, while the net outflow of capital in 2017 was 31.3 billion dollars, which is about 1 trillion 966 billion rubles. The National Welfare Fund holds 4 trillion 844 billion rubles. Gazprom's profit is evaluated at 997 billion rubles. The profit of Russia's largest state-run bank, Sberbank, is 542 billion rubles. The Russian shadow economy is evaluated at 33.6 trillion rubles, or 39 percent of GDP, said business ombudsman Boris Titov.Therefore, all of the measures that Putin voiced in his speech look superficial. We have an impression that all of the "gifts" that Putin mentioned in his speech had been included in the reform in advance. Obviously, the inflation will eat up the promised addition of 1,000 rubles per year. Putin speaks about a pension of 20,000 rubles by 2024, whereas in Europe, pensions make up 40 percent of what a people get during their work service. One can only guess why Putin takes such a position. Probably, this is due to the overwhelming external pressure. If Putin had tried to explain that, people would have probably understood. Instead, they saw their president laying the burden of responsibility for the future of the country on the population. Putin does not feel guilty for the fact that Russia has not been able to amass enough money during the 2000s to finance social programs and build an independent financial system. He does not feel guilty for showing insufficient resistance to the shadow economy and corruption. Instead, he was trying to come to terms with oligarchs. An agreement with them has turned out to be more important for him than an agreement with the people.Putin's voters want a strong social state that would successfully support the foreign policy of the Kremlin from the inside. The living standard in Russia has been decreasing for the last five years, and Putin wants his electors to pedal back. Putin's rating may eventually collapse, and the president will lose control of the idea of patriotism that he has been talking about for so long. People will feel humiliated and betrayed when they realise that their president lied to them. Lyuba Lulko (Stepushova)Pravda.Ru Read article on the Russian version of Pravda.Ru   
Twenty-six thousand exhibits and 30 signed contracts for the supply of military equipment - this is a brief summary of Army-2018 annual military-technical arms show that was held near Moscow in Patriot Park. Representatives of more than 100 countries came to take part in the arms show this year. Russia's Defense Ministry signed a contract to purchase a large batch of new T-14 tanks and T-15 armored combat vehicles on the universal Armata platform. The Russian Armed Forces will receive 132 units of equipment before 2021. The first nine tanks are to be supplied already this year. During the forum, a number of innovative weapons were showcased together with well-known models. For example, it is 2C38 Derivation-Air Defense anti-aircraft artillery complex. The system has a 57-millimeter gun with a rate of 120 rounds per minute. Another novelty is the wheeled armored platform Boomerang, designed for the transportation of military personnel, as well as for combat missions targeting enemy infantry, armored personnel carriers and even tanks.The organizers of the forum held large-scale demonstrations to let everyone see the new weapons in action. Dozens of design bureaus and shipbuilding companies presented their developments at the forum as well: warships, submarines, weapons and radar systems. It was said that the Russian Navy would soon receive18 frigates of project 22350 and 36 corvettes of project 22380. These ships with a displacement of 4,500 tons are 135 meters long and 15 meters wide. They develop the speed of up to 29 knots, have the navigation range of up to 4,500 miles and endurance of up to 30 days.For the first time, the forum demonstrated an unmanned underwater vehicle, the tests of which are to start in November or December of this year. The underwater drone will be used to protect ports, bridges, naval bases and ships from saboteurs.The Krylov State Research Center showed the concept of a light multipurpose aircraft carrier Storm-KM with a displacement from 37 to 44 thousand tons. The ship can take on board about 50 aircraft - heavy Su-33 fighters, light MiG-29K, long-range radar patrol aircraft and multi-purpose helicopters Ka-27. The ship is powered with a 110,000 hp gas turbine. The construction of the  exhaust system makes the vessel less noticeable.It was said during the forum that Russia's fifth-generation Su-57 aircraft would be upgraded further to receive artificial intelligence. The control system and sighting equipment will be upgraded to the level of automatic combat use. The Su-57 will also be equipped with an onboard defense complex that includes new frequencies and operating modes.For the time being, Russian Air Force pilots operate ten such aircraft - fighters undergo a series of military tests in the air and on the ground. Russia also develops a new vertical take-off and landing aircraft for aircraft carriers. The implementation period of the project up to ten years. The project is included in the state armament program and comes as a continuation of the Soviet development - the Yak-38 aircraft.It is worthy of note that the contracts signed within the scope of Army 2018 forum are evaluated at over 130 billion rubles, which is three times as much as last year.   
Russia intends to continue exporting aeronautical titanium and rocket engines to the United States despite the crisis in relations between the two countries, Deputy Foreign Minister Sergei Ryabkov told reporters. "We firmly believe that we must not cause damage to ourselves. Ideas to cut the supplies of rocket engines for the US space program or aeronautical titanium that is produced at a joint venture with Boeing, or other positions of our exports to the US should not be considered as options here," Ryabkov said. According to him, the decision to stop exporting rocket engines and aeronautical titanium to the United States would be equivalent to shooting oneself in the foot and causing damage to one's own economic operators.   
Russian President Vladimir Putin considers new US sanctions counterproductive and meaningless actions."Regarding the sanctions, these actions are counterproductive and meaningless, especially against a country like Russia," Putin said at a press conference after talks with the President of Finland Sauli Niinisto.Putin also said that he was still hopeful that the United States would some day realize how futile this policy is. On August 21 it became known that the US imposed sanctions against a number of Russian citizens and companies because of their alleged cyber-activity and cooperation with the DPRK.Russia may switch to national currencies in settlements with other countries in order to minimize the effect of US sanctions, Russian Minister of Industry and Trade, Denis Manturov said. According to him, Moscow is preparing a whole package of retaliatory measures in response to Washington's economic policy. The minister also said that the restrictions have made Russia less dependent on the international financial system. Financial sanctions against Russia may affect Russia's exports to third countries. Therefore, Russia may abjure the US dollar in transactions with other countries, Denis Manturov added. In turn, the head of Russia's Federal Service for Military-Technical Cooperation, Dmitry Shugaev, said that the US currency was unreliable. "It is an open secret that the dollar is an unreliable currency today, to say the least, especially within the framework of settlements in the field of military-technical cooperation. That said, we already find ways to overcome negative consequences today," Shugaev said. Russia's Finance Minister Anton Siluanov expressed a similar opinion earlier. According to him, financial restrictions "will backfire on the Americans." It is worthy of note that Turkey also expresses a wish to abandon the US dollar and switch to national currencies. For Turkey, such cooperation can be possible with Russia, China, Iran and Ukraine. "If European countries also want to get rid of the shackles of the dollar, Ankara is ready to switch to national currency settlements with them too," Turkish President Recep Tayyip Erdogan said.   

Summa Group
Компания Группы «Сумма»
115201, г. Москва, улица Котляковская, дом 6, стр. 8
+7 (495) 987-46-65
email: info@glavproektkomplekt.com
Copyright © 2016 ООО "ГЛАВПРОЕКТКОМПЛЕКТ"
Все права защищены
Сайт разработан в студии Parnas-IT