21 October 1999
DAILY REVIEW FROM TATARSTANRussia And Tatarstan To Manage KamAZ
The governments of Russia and Tatarstan announced that they jointly hold 53 percent of the shares in the KamAZ automotive plant, the republican press reported on 21 October. This restructuring allows for 6 billion rubles to be cut from KamAZ's total debt of 30 billion rubles. The company's shareholders and board of directors has reportedly had approved the move. KamAZ General-Director Ivan Kostin told the republican press on 21 October that the process of debt restructuring "would be accelerated so that it could affect the majority of KamAZ debt."
Algerian Military Vessels To Be Repaired In Tatarstan
The Republican media reported on 21 October that Tatarstan's Yashel Uzen shipyard might win a tender to repair small Algerian rocket-carrying vessels and frontier guard boats. A commission from the federal Rosvooruzhenie military exporter reportedly visited Yashel Uzen on 18 October. A final decision by Rosvooruzhenie and the Tatar government is expected after a the main bidders are announced on 24 October.
Compiled by Iskender Nurmi