India to manufacture 5 thousand Kamaz trucks a year

Kamaz and the Indian-based Vectra Group have signed an agreement setting up a joint venture to produce Kamaz trucks for the Indian market.

According to Kamaz’s press service, the agreement was signed by Kamaz general director Sergei Kogogin and Vectra Group president R. K. Rishi.

The plant is to be located in the city of Hosur, 80 kilometres of Bangalore. It is designed to manufacture 5 thousand trucks a year and will commence operation in late 2009. OAO Kamaz owns a 51 stake in the joint venture.

After signing the agreement, Mr Kogogin said: “The Vectra Group company is a reliable partner, that is well aware of the specifics of the local market. We intend to have long-term strategic partnership on the Indian market with them”.

Vectra Group comprises 18 companies, engaged in various types of business in India, Eastern Europe and other countries. The company’s core types of business are aviation, including helicopter sales, truck manufacturing, property, information technologies, security systems and oil industry.