OJSC Kamaz (MOEX: KMAZ) is interested in the organization of automobile assembly plant in China, Kamaz CEO Sergei Kogogin told journalists.
“Today we are seriously looking at China, where clusters for the production of automobile components have already been created, which we are already using for Russian production in Naberezhnye Chelny. Of course, in this case we will strive to make production, to work on those sites in order to avoid forex risks,” he said, underlining that this concerned the possibility of organizing production there.
He said that Kamaz is increasing its export activity in order to mitigate the negative effects on the domestic market. “We are seriously counting on large contracts, which were prepared for the last six months,” the CEO said. “We will conduct work in the north of South America – Venezuela, Columbia, Peru. Mainly our products there are connected with the bus program, we are actively selling bus chasses. It turns out that we began to fill the niche for 10-meter buses there,” he said.