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News

21.09.2021
09:15

REC Group’s investment in the KAMAZ export projects will exceed 20 billion rubles

Within the framework of the program to support the export of high-tech products, EXIMBANK OF RUSSIA JSC, against insurance coverage by EXIAR, supports the supply of KAMAZ vehicles and vehicle sets to Azerbaijan, Kazakhstan, and Lithuania. The first tranches under the new ninth loan agreement with KAMAZ PJSC has been already made. By the end of the year, the total amount of financing provided by EXIMBANK OF RUSSIA to KAMAZ for the entire period of cooperation will exceed 20 billion rubles.

The REC Group finances KAMAZ trucks export deliveries in the key areas. 70% of company’s exports falls on the CIS countries and 30% - on the rest countries.

“KAMAZ is one of the most effective players in foreign markets, which actively uses the support tools offered by Russian Export Center. Supporting the export of engineering products is one of our priorities, since engineering is a key industrial integrator, creating a multiplier effect for all sectors of the economy along the production and value added chain, from design and engineering, raw materials and transport systems to the sale of the finished products and their subsequent operation and maintenance,” Azer Talibov, Chairman of the Board of EXIMBANK OF RUSSIA JSC.

“We have a long-standing relationships with the KAMAZ Group. We have been cooperating since 2011, since the foundation of EXIAR. It is very important for us to comprehensively support the export activities of the KAMAZ Group, which not only exports finished products, but, being a global player, implements localization projects using the Russian component base in target foreign markets,” Nikita Gusakov, Senior Vice President of REC JSC, General Director of EXIAR.

“We strongly appreciate our cooperation, long-term partnership with companies of the REC Group. Undoubtedly, the support from Russian Export Center, EXIAR, and EXIMBANK OF RUSSIA allowed us to develop our export activities more effectively over the years. The support we use secures our needs at all stages of export activities, i.e. when creating new export-oriented products, entering new markets, developing the production cycle, implementing direct deliveries and further service support. It is quite obvious that the REC Group plays an important role in increasing machine-building exports and exports as a whole,” Andrey Maksimov, Deputy General Director, Financial Director at KAMAZ PJSC.

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KAMAZ PJSC is the largest Russian automotive corporation. It enters top 15 world's leading manufacturers of heavy trucks and is in 14th place in terms of production of heavy trucks with a gross weight of more than 16 tons. Its production capacity is 71 thousand vehicles annually. The KAMAZ Group unites 108 companies in Russia, the CIS, and far abroad. In total, KAMAZ Group employs 33.2 thousand people.

EXIAR JSC and EXIMBANK OF RUSSIA JSC are part of the REC Group, which is part of VEB.RF. The REC Group and VEB.RF are actively involved in achieving the goals of the International Cooperation and Export national project, according to which it is necessary to development of export competitiveness during the next 10 years by achieving a 70% increase in the volume of non-resource non-energy exports by 2030.