NIZHNEKAMSK, Russia—Kama Tyres is planning to increase capacity for truck tires and produce a new range of large tires at the Nizhnekamsk Truck Tire Plant Ltd., according to parent company Tatneft Neftehim L.L.C.
The modernization project calls for an expansion of capacity for all-steel radial truck tires by 1.2 million units per year and the addition of 33,000 units of annual capacity for large agricultural and industrial tires, Tatneft Director Guzel Khabutdinova said.
The modernization project follows completion of a 10-year, $135 million credit deal involving the Bank of Zenith, Moscow Credit Bank and All-Russian Development Bank of Regions, Tatneft said.
The first tranche of the loan, valued at $46 million, was released in late 2020.
Tatneft claims the Nizhnekamsk plant, located in Russia's Tatar region roughly 675 miles east of Moscow, is the largest truck tire plant throughout eastern Europe. Capacity there is estimated at over 34,000 units per day.
The implementation of these projects "will strengthen our position in the domestic and foreign markets," Khabutdinova said.