MINSK, 7 June (BelTA) – AMKODOR-Onego (based in Russia's Petrozavodsk) and the Industrial Development Fund of Russia signed a soft loan agreement for a project to set up a forestry machinery plant operating a full production cycle at the St. Petersburg International Economic Forum, BelTA learned from the press service of the holding company Amkodor.
The signing ceremony was attended by heads of various agencies, including Head of Russia's Republic of Karelia Artur Parfenchikov.
“This project will be implemented within the framework of the special investment contract between the Russian Ministry of Industry and Trade and AMKODOR-Onego that was signed at the 2019 edition of the St. Petersburg International Economic Forum,” the press service noted.
The plant is supposed to reach full capacity by 2030. By 2028, the project will achieve its key goal – 100% localization of the production of forestry machinery in Russia.
Founded in 1927, the holding company Amkodor produces 125 models and modifications of vehicles, machines, and equipment. The company employs more than 6,000 specialists. All its enterprises are integrated into one technological chain. Every constituent enterprise specializes in making specific parts and units for other enterprises of the company. The holding company constantly designs new models and improves existing ones.
