The EDB provides RUB 9.5 billion to KAMAZ
Moscow, 19 November 2018. The Eurasian Development Bank (EDB) provided over RUB 9.5 billion to KAMAZ, including for the implementation of its investment programme.
The funds will be used to support KAMAZ’s most important investment project – Enhancing the Product Range of KAMAZ Vehicles and Upgrading Its Production Facilities. The project intends to set up a compact high-tech production facility for the manufacture of new K5 generation trucks. The main advantages of KAMAZ new-generation vehicles are high comfort and security, up-to-date and reliable equipment and systems, a trendy design, as well as high handling capacity and operational efficiency.
In this transaction, the EDB used equity and bond instruments to help KAMAZ develop an optimal funding structure.
“The project is in line with the EDB’s mission and strategy as it will promote import substitution, technological advances and exports, including to the EDB member countries,” Vsevolod Smakov, Project Block Manager at the EDB, commented.
“We are satisfied with our joint work and hope to continue our strategic partnership with the EDB, including as regards export financing, as we are sure that the new KAMAZ models have high export potential,” Andrey Maksimov, Deputy General Director at KAMAZ, added.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
The KAMAZ Group of Companies is Russia’s largest automobile corporation. KAMAZ is one of the world's top 20 heavy-duty truck producers and ranks 16th by production volumes of heavy-duty trucks with GVW exceeding 16 tonnes. The production capacity is 71,000 vehicles a year.
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)
KAMAZ Press Service:
Oleg Afanasiev
Tel.: +7 (8552) 45-21-35