Bloomberg News

Russia Aims to Boost Value of Farm-Machinery Production Fivefold

November 24, 2011

Nov. 24 (Bloomberg) -- 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.

--Editors: Tony Barrett, Ana Monteiro

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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