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Manufacture of Unique Ural Trucks to Be Expanded with Financial Support from VEB.RF

25 december 2024 года
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VEB.RF and Automobile Plant URAL have signed a loan agreement to finance a new, modern, fully integrated foundry for the manufacture of Ural trucks.

The future foundry’s annual capacity will be 45,000 tonnes of cast iron for automotive components supplied to Automobile Plant URAL and external customers. The existing production facilities are not sufficient to make trucks in the quantities required under the product strategy of the company.

The total project value is 9.5 billion roubles, with VEB.RF’s commitment of 2.6 billion roubles. Financing is supported by the Russian Ministry of Industry and Trade.

Daniil Algulyan, Deputy Chairman, VEB.RF: “A high-tech foundry for this type of truck is a unique project that uses advanced domestic solutions. The sale of products opens up new opportunities to design high-quality components necessary for the truck industry. This project is an important step towards strengthening the national economy, securing technological self-sufficiency and developing a strategically important industry. The products are unique, which gives the company a lead in the market and allows Automobile Plant URAL to make a substantial contribution to the modernisation of domestic machine building.”

The project aims to support the manufacture of Ural trucks. The new facility is designed to manufacture medium- and small-size iron castings for the key systems of the Ural truck, as well supplying import-substituting components to other industrial factories.

Automobile Plant URAL has also received support from the VEB.RF Group’s entities. The Industry Development Fund, whose activities are coordinated by VEB.RF as instructed by the Russian Ministry of Industry and Trade, provided soft loans to Automobile Plant URAL for a total of 7.2 billion roubles for the manufacture of automotive components for Ural trucks, including drive axles and front axles. With support from the Russian Fund for the Development of Information Technologies (part of the VEB.RF Group), Automobile Plant URAL completed a digital transformation project by replacing foreign IT solutions with domestic products and increasing the number of high-technology jobs by 20 per cent.
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