Moscow multi-industry group RATM Holding intends to invest $108m in a major upgrade of equipment at its subsidiary Altay tractor factory Alttrac, sources in the tractor factory said earlier today.

70% of the amount required will be in loans, the sources added.

Under plan is retooling for the launch of serial production of new A-600 tractors.

The upgrade will actually mean construction of a new factory, a factory spokesman said, as old semi-automated lines will be replaced with computerized gear and laser units.

Earlier Marchmont reported that Alttrac had re-started work after a bankruptcy procedure (see news of August 27).