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Add to Preferred SourcesThe 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.
Original source: EDB
Published on 19 November 2018