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Rostec Joins Forces with Austrian Companies

The state-owned technology company Rostec has signed a slew of agreements with Austrian companies to use the Europeans' technology in joint ventures, including a deal to begin manufacturing firearms in in the Russian republic of Udmurtia.

The Russian company and the weapons producer Steyr Mannlicher signed the agreement on Tuesday at the Russian-Austrian Business Council meeting in Vienna, Rostec's vice president Vladimir Artyakov told Prime.

Rostec's Izhevsk arms factory, which manufactures the legendary Kalashnikov assault rifle, will house the partners' new endeavor.

The Austrian side, which will give the project materials, technology and designs for recreational and military-grade weapons, is expected to include other weapons producers, like the pistol company Glock.

The Vienna meeting also saw Technopromexport, a Russian engineering company specializing energy facility construction, and Andritz Hydro, which builds electrical systems for hydropower stations, sign an agreement of intent to cooperate with Rostec on future international hydroelectric projects.

Austrian technology will help the Rostec to compete on international markets, including in Asia and Africa, Rostec's head Sergei Chemezov said.

Rostec and the Austrian company Diamond Aircraft earlier signed an agreement to build light passenger planes at the Ural civil aviation factory.

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