Today, senior officials of OAO Sosnovoborelektromontazh (OJSC), the sole founder of which is the construction holding company Titan-2, has signed a donation agreement under which the last 30% of shares of OJSC 31st State Design Institute of Special Construction are returned to the state ownership represented by the Russian Ministry of Defense. The decision was made yesterday by the Titan-2 board of directors.

We remind that during a preliminary investigation of the case opened by Main Military Investigations Directorate of the Russia’s Investigative Committee over swindling in selling the assets owned by OAO Oboronservis (OJSC) controlled by the RF Defense Ministry and its affiliated organizations, it has been found that the shares of strategically important for the defense of county 31st State Design Institute of Special Construction were bought at a lower price by VitaProject and OAO Sosnovoborelektromontazh (OJSC).

A few days earlier VitaProject voluntarily and free of charge returned all 70% of shares of 31st State Design Institute of Special Construction to the Russian Federation represented by the Defense Ministry.

After the senior officials of OAO Sosnovoborelektromontazh did the same the sole owner of the institute, which is the leading organization in designing special and space facilities, is again the state.

Head of Media Relations Directorate                                                                                    V.I. Markin