The EDB guarantees BELAZ supplies of mining equipment to India

18 December 2020

Moscow, 18 December 2020. The Eurasian Development Bank (EDB) issued guarantees to secure the obligations of BELAZ (the management company of BELAZ-HOLDING) under a contract to supply mining trucks to Coal India Limited, the largest coal mining corporation and a public sector enterprise in India.

The Belarusian company, which has been cooperating with the EDB for years, offered the most favourable terms for the supply of machinery and beat its main competitors – Caterpillar, Hitachi, and Komatsu.

“This contract will make it possible for BELAZ to boost production and will strengthen the company’s position on export markets. We would like to thank our long-time partner, the Eurasian Development Bank, for financial support for the project,” commented Alexander Burko, Deputy General Director of BELAZ.

“BELAZ is one of the Eurasian Development Bank’s key industrial clients, which contributes a lot to the development of cooperation among the Bank’s member states. We are satisfied with our joint work and look forward to continuing our cooperation in the future,” said Sergey Ignatov, Managing Director and Head of the Directorate for Industries.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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