Russian Machines and AGCO Corp. are going to form JV at par in Russia, the company informed.
The companies are ready to invest $100mln in JV.
The new plant is assumed to be launched in operation in 2014.
It is aimed to provide localization and distribution of agro facilities. On the basis of the Basic Element-held entity the new farm will be set up to demonstrate innovative methods of operation.
Russian Machines is a large Russian diversified corporation included into Basic Element Group. It involves industrial and engineering assets in automotive, aircraft building, special facilities sectors.