VTB finances modernization of OJSC KAMAZ
4 October 2011
JSC VTB Bank has signed a RUB 1.94 loan agreement with OJSC KAMAZ, the world leading manufacturer of heavy trucks. The funds will be granted for five years to finance Production of Kamaz Euro-4 Trucks Project aimed at modernization of the company’s fixed assets.
VTB has always supported initiatives of its strategic partners adopted to streamline production and technologies.
According to Valery Lukyanenko, Member of VTB Management Board, “Financing the KAMAZ project has a great social value. It contributes not only to development of environmental standards for domestic engines and heavy trucks, but also to higher competitiveness of the domestic car industry and the country’s economy.”
KAMAZ Group of Companies is one of the largest automobile corporations of the Russian Federation which ranks 16 among the world’s top heavy truck manufacturers.
The single production complex of KAMAZ Group embraces the whole technological cycle of truck production – from development, production, assembly of vehicles and auto components to marketing of finished products and service maintenance.
The group of the process chain includes 12 large automobile plants. At present, KAMAZ Group includes over 150 organizations
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