Business news

MINSK, 17 June (BelTA) – The Belarusian automobile engineering company BelAZ, which is the managing company of BelAZ Holding, and the Russian company Power Machines intend to set up a joint venture to make sets of electric traction drives for mine dump trucks, BelAZ’s press service told BelTA.

According to the source, OAO Power Machines Director General Roman Filippov visited BelAZ on a recent day. The negotiations focused on a number of matters concerning future development of mutually beneficial cooperation, in particular, the establishment of a joint venture to make sets of electric traction drives for mine dump trucks.

The source said that the meeting of the heads of the companies and the discussion of ways to implement the strategic partnership program between OAO BelAZ and OAO Power Machines represent a new stage in mutually beneficial relations.

For ten years OAO BelAZ has cooperated with the electric engineering company OAO Power Machines, which makes alternating-current electric drives. The partnership began in 2006 when the Russian company made an alternating-current electric drive prototype for a mine dump truck with the carrying capacity of 130 tonnes. At present BelAZ’s mine dump trucks with the carrying capacity of 90 tonnes, 130 tonnes, and 360 tonnes use electric drives made by Power Machines and are popular on the market.

The Zhodino-based automobile engineering company BelAZ was founded in September 1948. In 2010 BelAZ was reincorporated as a public joint stock company (OAO). In September 2012 BelAZ became the managing company of BelAZ Holding. BelAZ is the world’s top manufacturer of mine dump trucks with a large carrying capacity and an extremely large carrying capacity as well as other heavy transport equipment used by the mining industry and the civil engineering industry.