Business secretary says deal is triumph for British-Russian relations
Russian contractor MOCT has agreed to buy hundreds of diggers and generators from British company JCB in a £23m deal.
The machinery will be used on work to upgrade the Winter Olympic transport infrastructure at Sochi and to construct a bridge at Vladivostock.
Business secretary Peter Mandelson welcomed news of the contract on the second day of his business visit to Russia. Managing director of JCB Sales, Tim Burnhope, is also on the trip.
Mandelson said: “We can move markets as well as earth if we keep the business relations right between Russia and the UK.
“Trade is growing at more than 25% a year, year on year. Russia wants British goods and investment and Britain likewise welcomes Russian investment in our country.”
The news comes just days after workers at JCB's British assembly plants chose to take a £50 a week paycut in order to save 350 jobs at the firm.