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Idex 2021: Russia’s Kalashnikov seeks joint ventures in Gulf as it unveils new assault rifle in Abu Dhabi

Russian arms maker Kalashnikov is pursuing joint ventures as it seeks to sell new products in the Gulf and grow its annual revenue by more than 60 per cent by 2025.

The state-owned manufacturer has set a revenue target of 50 billion roubles ($676 million) by 2025, up from 30bn roubles last year, chief executive Dmitry Tarasov told The National on Monday on the sidelines of the International Defence Exhibition and Conference.

It expects sales to grow 25 per cent each year.

Kalashnikov plans to boost revenue through new product sales, expansion and continued growth in its home market, where it produces about 95 per cent of all small arms in…

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