EDB Opened 1.5-billion Rouble Loan Facility for SAREKS

Almaty, 13 July 2010. The EDB and the leading Russian tractor producer SAREKS entered into an agreement on a three-year, 1.5-billion rouble revolving loan facility.

In accordance with this agreement, SAREKS will apply these resources for purchasing spare parts from the Minsk Tractor Works (Belarus) for assembling multi-purpose loaders, public cleansing vehicles and excavators which will be sold in Russia and other CIS countries. A portion of the loan will be used to refinance the current debt of SAREKS to other banks.

According to the EDB’s experts, this transaction will produce a strong effect on integration, promote co-operation between the two major machinery manufacturers, and boost commodity turnover between Russia and Belarus.

Additional Information

SAREKS is one of the largest Russian manufacturers of excavators based on the MTZ-80/82 and UMZ-6AK wheel tractors, founded in 1943. In addition to these machines it produces a wide range of special-purpose and farm equipment, such as ploughs, cultivators, drags, etc. https://www.sarex.ru

The Minsk Tractor Works is one of the world’s top ten manufacturers of farm machinery with a share in the global wheel tractors market of 8-10%. The company designs, manufactures and exports wheel tractors and spare parts, including licensed production and maintenance services. https://belarus-tractor.com