The governor of Krasnodar region, Veniamin Kondratyev, said that the meeting was an important step in terms of cooperation between Russia and Germany under new geopolitical conditions.
"We tried to take into account all possible problems and make the investment agreement with CLAAS as operational and mutually profitable as possible," the official said.
According to the governor, agriculture, green technology and energy-saving projects are among the most promising cooperation sectors between Russian and German companies.
In 2005, CLAAS opened its first production plant in Russia. The plant produces Tucano and Axion850 combine harvesters, as well as Xerion 3300/3800 tractors. Construction of a second factory started in 2013 despite the fact that European countries, and in particular Germany, have introduced economic sanctions against Russia due to its alleged involvement in the Ukrainian crisis.
According to official data, the project's investments amounted to seven billion rubles (about 100 million euros according to the current exchange rate).