EDB plans to finance KAMAZ’s project in Kazakhstan
- Written by TCA
NUR-SULTAN (TCA) — Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), and Sergey Kogogin, Director General of KAMAZ, on February 17 signed preliminary indicative terms of financing the development of the model range and the upgrade of production facilities of Russia’s largest automobile corporation. According to the document, the Bank will provide a five-year loan facility for a total of RUB 12 billion, in particular to set up the production of axle drives and a foundry in an industrial zone in Kostanai (Kazakhstan), the EDB said. The foundry will manufacture axle casings, cylinder blocks, and cylinder heads for the new K5 generation trucks.
