The Russian company of KamAZ is going to invest €50 m to create the first stage of an assembly plant in Senegal, Sergei Kogogin, Director General of the KamAZ plant, told journalists, RNS reports.
Presently, the Senegal government and the Russian EXIAR Insurance Agency are on the final stage of negotiations on provision of the government guarantee of the deals planned by KamAZ, he said. The deals surpass €50 m on the first stage, Kogogin added.
The net profit of KamAZ according to Russian Accounting Standards in 2016 год totaled 1.2 bln roubles ($20m), against the negative profit of 3.3 bln roubles ($55m) in 2015. The net profit (IFRS) in 2016 totaled 656 m roubles ($9,42m), while the negative profit in 2015 was 2.38 bln roubles (≈$40m).
