Russian Technologies is looking for money to increase its stake in truck maker KamAZ, the state corporation's chief, Sergei Chemezov, said Wednesday.
He also announced the purchase of 15 aerial drones from Israel, marking Russia's first major purchase of military hardware from abroad.
"We are looking into [raising our stake in KamAZ] but haven't found the money," he said, adding that funding would have to come from banks.
The announcement boosted the Tatarstan-based truck maker's shares, which closed up 1.2 percent on MICEX, ahead of the exchange's benchmark index, which lost 0.6 percent.
Chemezov first mentioned boosting the state's stake in KamAZ in February, saying that under an agreement with partner Daimler, no shareholder could take a controlling stake. Russian Technologies has 37.8 percent of KamAZ, while Daimler has 11 percent.
The corporation has registered a new holding, Rostekhnologii Avto, and its supervisory board will approve the creation April 29, Chemezov said, adding that it would be headed by KamAZ chief Sergei Kogogin.
Russian Technologies said last year that it would group its auto assets, including stakes in AvtoVAZ, KamAZ and Avtodiezel, an engine-making subsidiary of GAZ, with Kogogin as its likely chief executive.
Chemezov also told reporters that Russian Technologies bought 15 aerial drones from Israel Airspace Industry for testing and plans to create a joint venture.
Earlier this month, Deputy Defense Minister Vladimir Popovkin told reporters that Russian-made drones were inferior to foreign ones, despite 5 billion rubles ($170 million) of research and development by the military.
Chemezov also promised to announce results of a tender held last year for Russian Technologies' purchase of 65 midrange planes for Rosavia, an air holding whose fate has essentially been scrapped since Prime Minister Vladimir Putin approved the handover of its presumed assets to state-controlled Aeroflot.
"We postponed the announcement to the end of May," Chemezov said, without elaborating on how the planes would be used.
Russian Technologies and Aeroflot have already signed an agreement, and the topic will be discussed at the airline's next shareholders meeting. Under the arrangement, Russian Technologies will have one seat on Aeroflot's board, Chemezov said.
Defense Minister Anatoly Serdyukov said Tuesday evening that KamAZ would begin cooperating with Germany's Rheinmetall Defense to provide better armor for equipment ordered by the military.
"We forced KamAZ and other companies to sign contracts with foreign firms. They've already begun discussing the purchase of light armor to be used on reconnaissance vehicles and military transport," he said, Interfax reported.
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