Petersburg Tractor Plant signs memorandum of cooperation with Minsk Tractor Plant and Gomselmash

Petersburg Tractor Plant (part of the Kirovsky Zavod group) signed a memorandum of cooperation with Minsk Tractor Plant and Gomselmash at the Belagro-2021 international specialized agricultural exhibition on June 3.

The memorandum covers joint development of priority innovation projects, the exchange of information, mutually beneficial consulting, and other activities related to the deepening of intersectoral and interstate cooperation.

Present at the signing were Director of Petersburg Tractor Plant Sergei Serebryakov, CEO of Minsk Tractor Plant Vitaly Vovk, and CEO of Gomselmash Alexander Novikov.

Together, these enterprises will manufacture almost every conceivable type of agricultural machinery: caterpillar tractors, classic tractors with a capacity of up to 250 hp, high-power tractors with a capacity of 250 to 430 hp, and agricultural harvesters. Working together will reduce production costs, and the equipment manufactured will become more competitive in both domestic and foreign markets. In addition, up to 7,000 jobs will be created, and RUB 10 billion in tax revenues will go to the countries concerned.

This cooperation initiative is supported by the Board of the Eurasian Economic Commission. The memorandum provides for the possibility of expanding the number of companies involved in the partnership.