In the course of the 10th Sochi International Investment Forum and in the presence of Russian Prime Minister Vladimir Putin, State Corporation ‘Bank for Development and Foreign economic Affairs (Vnesheconombank)’ entered into a credit agreements with LLC Ford Sollers Holding, LLC Ford Sollers Elabuga and CJSC Ford Motor Company for a total amount of 36 billion rubles.
On behalf of Vnesheconombank the agreements were signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of LLC Ford Sollers Holding and Ford Sollers Elabuga – by Vice President of Ford Motor Company and Vice President of Manufacturing for Ford of Europe Ken Macfarlane.
Under the Agreements the funds are intended for financing the investment project to establish a joint venture FORD-SLLERS to manufacture cars, commercial automobiles, and all-roaders with a capacity of 350 thousand automobiles per year with a target level of localization of at least 60 % including manufacturing of power units in Russia.
Press Office of Vnesheconombank
Contact Person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru
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