UPDATE 1-Russia to spend $3.5 bln on 35 planes from Boeing

MOSCOW, Oct 30 (Reuters) - State-owned industrial and defence vehicle Russian Technologies is to buy 35 737 MAX planes from U.S. aerospace company Boeing Co for $3.5 billion, the companies said in a joint statement on Tuesday.

Boeing has predicted that Russia and neighbouring states will take delivery of 1,140 new aircraft over the next 20 years, valued at $130 billion.

``Russia is becoming a vital partner in everything that we do,'' said Raymond Connor, president and CEO of Boeing at a press conference in Moscow. ``It isn't only vital in terms of our manufacturing but it is also vital to us with respect to engineering, space, and of course services.''

The Chicago-based aerospace company, which has been working in Russia for 30 years according to its website, said the first delivery would be in August 2018.