OREANDA-NEWS On January 25, in the course of Russian President Vladimir Putin’s formal visit to the Republic of India Vnesheconombank, Group GAZ and URAL INDIA Ltd signed an agreement on cooperation.

The Agreement aims to establish strategic partnership and expand long-term effective and mutually beneficial cooperation in order to prepare schemes of projects carried out on India’s territory.

The agreement provides for cooperation in establishing a Russian –Indian joint venture for assembling Ural trucks in the state of West Bengal.

At this stage a license agreement on assembling Ural 555717 trucks (6 x 6 wheels formula) has been reached. A contract totaling 4 million US dollars for the assembly of 150 trucks is being carried out now.