COMPLETE KNOCK DOWN (CKD) OF BYELORUSSIAN TRACTORS TO BE LAUNCHED IN ARMENIA

ArmInfo
2009-08-12 17:20:00

ArmInfo. Complete knock down (CKD) of Byelorussian tractors will
be launched in Armenia, Gagik Kocharyan, the Head of the Armenian
Economy Ministry Department for Trade and Service, told media on
Wednesday. Bobruisk Tractor Details and Assemblies Plant (Belarus)
and Armenian0Chinese JV "ChinVan" (Vanadzor, Armenia) have signed
a relevant agreement after the Byelorussian delegation made a
fact-finding visit to the plant. G. Kocharyan said nearly 50 tractors
will be assembled at the plant annually. The tractors can be used in
agriculture, construction and other sectors. To launch production,
ChinVan LLC will get a loan of $600,000 from VTB Bank (Armenia).

"By our initial surveys, demand for Byelorussian tractors in the
Armenian market meets the envisaged production scales. In addition, the
tractors may be also exported from Armenia," G. Kocharyan said. The
agreement also provides for warrantee service of tractors at the
JV. The production will create 20-30 new jobs. G. Kocharyan said 4
Byelorussian tractors assembled in Armenia will be exhibited at the
Armenia Expo 2008 Forum in Yerevan on September 4-6.

For his part, Samvel Najaryan, Director of ChinVan LLC, told ArmInfo
assembly of "Belarus" tractors of the models 320,321 and 322 will
be launched in Armenia as well as assembly of loading vehicles. It
will become possible through creation of a joint venture with equal
equity shares of ChinVan and Bobruisk Tractor Details and Assemblies
Plant. He mentioned that Chinese tractors are currently assembled
at the plant. Production of Chinese TV sets at the plant was stopped
in 2007.