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The government will provide “KAMAZ” 35 billion rubles. government guarantees for up to 15 years, said Russian Prime Minister Dmitry Medvedev at a meeting with the CEO of Automobile Sergey Kogoghin.
«I signed a special decree on granting state guarantees of up to 35 billion rubles for up to 15 years . Hopefully this will help bring to life your pretty extensive investment program “- quoted by Interfax head of government. According to Medvedev, “KamAZ” today is the flagship of the Russian “in many positions».
On the website of the government on August 19 there was a corresponding order. State guarantees provided by corporate bonds by 35 billion rubles. To issue bonds “KamAZ” adopted at the end of May. The proceeds from the bond sale will fund a seven-year investment program of the company. By public subscription will be taken by nine issues of 15-year bonds.
Soon after the news on state guarantees for the “KamAZ” the company’s shares on the Moscow Stock Exchange rose to 32.46 rubles. per share in early trading to 35.23 rubles. per ordinary share as at 14:55 MSK. Compared with the closing meeting on 18 August action “KamAZ” increased by 9,61%.
During the dialogue with the CEO of Automobile Medvedev also promised that the government will figure out how to stimulate the automobile market in the economic environment.
«The market situation is not easy, and we will think about how to stimulate the market in different ways. I gather colleagues after the holidays – and through the Ministry of Industry, Ministry of Economic Development … In general, the car market and the market of freight transport is a fairly accurate indicator of the state of affairs, “- said Prime.
CEO” KamAZ “said the head of government, that the drop in sales of commercial vehicles in Russia has reached 18-20%, particularly difficult situation in July and August.
«The general decline of the market we estimate at 18-20%. Especially alarming are July and August. If the first six months were still relatively satisfactory – we have increased their volumes, then July and August … It’s very high level of suspicion in me what’s going on, “- said Kogoghin.
He said that traditionally “KamAZ” takes on the Russian market share of 45-49%. According Kogogina, now consumers “go to standby mode».
Sergey Kanashevich Alexander Ratnikov Elizabeth Dobkin
August 19, 2014
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