CNH Gets Joint Venture Funds

The European Bank for Reconstruction and Development is set to loan $30m to Russian-Netherlands JV KamAZ — Case New Holland (CNH), according to bank reports.

While the loan terms have yet to be disclosed, the funds are to be invested into modernization of KamAZ’s production facilities and purchase of new modern equipment. CNH and Tatarstan-based truck giant KamAZ have set up a joint venture to produce ag and construction machinery. Initial investment into the project is reportedly estimated at $70 million. ◆