Russia’s Kamaz to export India-assembled trucks to third countries

NEW DELHI, November 18. /TASS/. An Indian unit of Russian truck producer Kamaz will export trucks assembled in the country to third countries, the producer’s CEO Sergei Kogogin said at a business forum Tuesday. “At the moment, we are working at supplies of our vehicles from India to Myanmar and Bangladesh,” he said. The company has already carried out some supplies to African countries, he added. The Indian subsidiary’s output amounted to 152 trucks in the 2013-2014 financial year (from April 2013 through March 2014). In the 2014-2015 financial year, the company will assemble about 150 trucks, Kogogin said. The localization of the subsidiary amounts to 80%, he said. The plant was launched in 2010 as a joint venture of Kamaz and India’s Vectra Group, with the Russian company holding a 51% stake. Earlier in 2014, Kamaz bought out a stake of its Indian partner in the plant, increasing its total interest to 100%. Read more