Bahrain’s Ambassador to Russia Ahmed Abdulrahman Al Saati, met with Sergey Chemezov, CEO of Rostec, one of the largest industrial groups in Russia, Bahrain News Agency (BNA) reported.
The Ambassador said that Bahrain welcomes cooperation with Rostec in various fields, indicating that Bahrain is the ideal gateway to the Gulf region with its attractive investment environment, its strategic location and the availability of an easy and convenient transportation network with all neighboring countries.
For his part, Chemezov confirmed Rostec’s desire to develop its relations with Arab countries in general and with the Kingdom of Bahrain in particular due to the distinguished relations between the leaderships of the two friendly countries.
He pointed out that Rostec is composed of 700 industrial and technological companies that employ 590,000 employees, and its activities vary from heavy industries, aircraft, vehicle and pharmaceutical industries, technology, software, communications to energy industries, with a value of about one trillion Russian rubles.
State Corporation Rostec is a Russian corporation founded in 2007 for the purpose of promoting the development, production and export of hi-tech civilian and military industry products. Corporation comprises over 700 organizations that are currently part of eleven holding companies operating in the military-industrial complex and four holding companies working in civilian industry, as well as over 80 directly managed organizations.
Rostec’s portfolio includes well-known brands such as AVTOVAZ, KAMAZ, Concern Kalashnikov, Russian Helicopters, UralVagonZavod, etc.
In 2017 the consolidated revenue of Rostec reached 1 trillion 589 billion rubles, while the consolidated net income and EBITDA amounted to 121 and 305 billion rubles respectively.