OREANDA-NEWS. May 30, 2012. Sberbank of Russia and the Government of Moscow signed a letter of intent regarding joint implementation of the project involving organization of manufacture of commercial cars and buses at the facilities of AMO ZIL. The capacity of the manufacture is estimated at up to 150,000 items a year.

Based on the LoI, the monetary contribution of the parties towards the project will be up to 4.5 bn. rubles. The parties expect to arrange for the following distribution of interest in the project: Sberbank – 51 %, the Government of Moscow – 49 %. Definitive parameters of how the investment project is to be implemented will be arrived at later.

"When implemented, this project will revive one of the leading car manufacturers in Russia, start production of high-quality and high-demand cars, create new jobs in the capital, – Herman Gref, President and Chairman of the Management Board of Sberbank of Russia, pointed out. – At the same time, the project is economically beneficial for Sberbank. We are pleased with arrangements we have reached and highly appreciate the project's prospects".