Sberbank May Finance Belarusian Truckmaker MAZ’s Plant in India

OAO Sberbank (SBER), Russia’s biggest lender, may provide financing to Belarusian truckmaker MAZ to build an assembly plant in India.

“We are in talks with two Indian firms to organize the assembly of MAZ trucks in India,” Dmitry Korotkevich, MAZ deputy commercial director, told reporters today in the capital, Minsk, without elaborating.

While India’s truck market is “saturated,” MAZ expects to invest at least $1.5 million in building a new plant in the country to assemble at least 500 trucks a year, Korotkevich said.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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