Russia will boost its farm-machinery industry, with a plan to raise the value of production fivefold to an annual 350 billion rubles ($11 billion) by 2020 and expand exports, according to First Deputy Prime Minister Viktor Zubkov.
The country plans to produce about 65,000 tractors and 13,000 combine harvesters a year by then, increasing the value of output from 67 billion rubles in 2010, Zubkov said in a statement.
Agricultural vehicle exports will rise to 46 billion rubles by 2020 under the plan, from 2.6 billion rubles in 2010.
(Bloomberg)
