MOSCOW TIME: 25.04.2024 18:10:45
Claas, a German company, is going to invest RUB 750 million into its Krasnodar-based plant manufacturing agricultural machinery.
German company to invest RUB 750 mln into its Krasnodar plant
Claas, a German company, is going to invest RUB 750 million into its Krasnodar-based plant manufacturing agricultural machinery.
The Federal Ministry of Industry and Trade has approved the execution of a special investment contract with the German manufacturer of agricultural machinery in the Krasnodar Territory.
The special investment contract warrants that appropriate business conditions and a number of federal level preferences will remain unchanged. Claas LLC (a Krasnodar subsidiary of German Claas) is, in turn, undertaking to additionally invest RUB 750 million into the plant to increase its capacity and localization level. The plant has also undertaken to export at least 5% of its entire output.
It is expected that the contract will be executed in the beginning of summer this year. The contract term will be 10 years.
Claas's plant was erected in the Kuban Capital back in 2005. To date, about EUR 150 million has already been invested in it. Over the period of its operation in the Russian region, the company has exported about 200 finished agricultural machines and 30,000 components.
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