Support The Moscow Times!

$500M Invested in Uraltrak

Chelyabinsk Tractor Plant – Uraltrak, part of Uralvagonzavod, intends to invest 15 billion rubles ($500 million) in the technical refitting of its production facilities, the Uralvagonzavod corporate newsletter said, Interfax reported Friday.

Some of the funds will come from the federal target program for the development of the mining complex.

The aim of the investment program is increasing annual sales volume to 30 billion rubles while increasing capitalization. Roughly 4.5 billion rubles will be put into developing serial production. The production of excavators and semis will move from Nizhny Tagil to Uraltrak production facilities. Chelyabinsk Tractor Plant – Uraltrak was created from liquid property of Chelyabinsk Tractor Plant after its bankruptcy.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.