OREANDA-NEWS. April 24, 2009. KAMAZ and the Vectra Group (India) signed an agreement on creating a joint venture to manufacture KAMAZ vehicles for the Indian market.

The agreement was signed by Sergey Kogoghin, Director General of KAMAZ Inc., and Mr R.K. Rishi, Vectra Group’s Chairman.

The plant will be located in Hosur, near Bangalore. Meant for production of 5,000 trucks a year, the plant will be put into commission at the end of 2009.

KAMAZ Inc. holds 51% shares in the JV.

After the agreement had been signed Sergey Kogoghin, Director General of KAMAZ Inc., noted, “The Vectra Group is a reliable partner aware of peculiarities of the local market. We plan to develop our long-term strategic partnership on India’s maket”.

The Vectra Group combines 18 companies which engage in various types of business on the Indian market, in Eastern European and other countries.

The company’s main business fields:
• Aviation, in particular, sales of helicopters
• Truck production
• Realty
• Information technologies
• Security systems
• Oil industry