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COOPERATION AGREEMENT BETWEEN KAMAZ AND REPUBLIC OF BASHKORTOSTAN

25 May 2018

KAMAZ PTC and the Republic of Bashkortostan signed an agreement on cooperation at the 2018 Saint Petersburg International Economic Forum.

The document was signed by Sergey Kogogin, Director General of KAMAZ PTC, and Rustem Khamitov, Head of Bashkortostan. The document provides for the parties' cooperation aimed at the efficient development of KAMAZ companies located on the territory of Bashkortostan, also thanks to investment projects. This activity is planned to be carried out according to a corresponding schedule of events. In particular, it is expected to create a joint working group, consider an opportunity to include development programs of Tuimazinskiy Zavod Avtobetonovozov PTC and NEFAZ PTC, subsidiaries of KAMAZ in Bashkiria, into the list of priority investment projects of Bashkortostan which will be loaned by the Republic's Industry Development Fund.

The Republic will also consider possible steps to include measures for development of the transport sector aimed at improving road traffic safety and environmental protection, renewal of passenger and cargo transportation vehicles, development of OEMs and vehicle sales and service centers into regional state programs.

"For us, the territory of the Republic of Bashkortostan is the second most significant ground after Naberezhnye Chelny employing over 8 thousand people, therefore our cooperation with local authorities is extremely important," commented Sergey Kogogin. "The signed agreement is focused on expansion of our cooperation and investment activities." Speaking about the significance of the document, he stressed that things were changing quickly then, and local authorities had to be sure that the enterprise was developing in the right direction. And KAMAZ needs support to introduce technological innovations and carry out investment activities.

"We realize that the industry is sometimes affected by difficult economic conditions. But at the same time we see that these industrial enterprises are developing: investments are being made, new productions are being created," noted Rustem Khamitov. "The agreement provides for the further development of these productions, capacity expansion, introduction of new products. This is a prospect that KAMAZ and, definitely, the Republic of Bashkortostan need." The head of the republic named the signed document an obviously good step towards the future and thanked the top manager of KAMAZ for the reasonable, serious and fast work carried out in the republic in order to develop Neftekamsk's and Tuymazy's plants.

The agreement is valid till the end of 2020 with an opportunity of prolongation.

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