Russia’s KAMAZ Group inks investment agreement with Kazakhstan
BAKU, Azerbaijan, Dec.14
By Nargiz Sadikhova - Trend:
Russia’s largest automobile corporation, KAMAZ Group of Companies and Kazakhstan’s Government have signed the investments agreement, Trend reports with reference to the press office of Russia’s Ministry of Industry and Trade.
The signing took place in Russia’s Naberezhnye Chelny city in presence of Russia’s Deputy Prime Minister Yury Borisov and Minister of Industry and Trade Denis Manturov. The agreement was signed by Kazakhstan’s Deputy Prime Minister Roman Sklyar and Director General of KAMAZ Sergey Kogogin.
The goal of the agreement is development of projects on manufacturing of the main transmission of driving bridges and production of cast iron for trucks.
“The agreement oversees Kazakhstan’s taking liabilities to fund components manufacturing, provision of tax benefits, exemption from customs payments, as well as provision of expenditures refunds to investors,” the report said.
As Head of Kazakhstan’s Kostanay region Archimed Mukhambetov said earlier this year, framework of future cooperation with KAMAZ realization of a number of projects on manufacturing of superstructures, reduction drives, foundry engineering. Furthermore an Engineering Center is also to be created.
KAMAZ Group of Companies is the largest automobile corporation in the Russian Federation. KAMAZ PTC is one of the world's top 20 heavy duty truck producers and ranks 16th by production volumes of heavy-duty trucks with Gross vehicle weight rating exceeding 16 tons.
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