UPDATE 1-Mercedes-Benz Trucks, Kamaz set joint venture

* Venture to make Mercedes-Benz trucks in Russia

* Venture to sell buses as well, more projects planned

* Builds Russian presence for German group

* Daimler shares up 0.6 pct

(Adds details, background)

FRANKFURT, Oct 1 (Reuters) - Daimler AG (DAIGn.DE) moved on Thursday to boost its presence in the Russian market by signing a letter of intent to create a truck and bus joint venture with local partner Kamaz (KMAZ.MM).

The venture aims to produce Mercedes-Benz brand trucks and sell Mercedes-Benz brand trucks and buses plus Setra brand buses, the world's biggest maker of commercial vehicles said in a statement.

"With the planned 50:50 joint venture Mercedes-Benz Trucks Vostok we will achieve an important step to strengthen our market position in Russia," said Hubertus Troska, head of Mercedes-Benz Trucks.

Daimler agreed last year to take a 10 percent stake in Kamaz, the Russian market leader.

Daimler's Mitsubishi Fuso Truck and Bus Corp unit agreed in July to set up a joint venture to import, produce and sell Mitsubishi Fuso trucks in Russia. It said negotiations to flesh out a letter of intent should wrap up this month.

Daimler shares rose 0.6 percent to 34.61 euros by 0730 GMT, while Germany's blue-chip index .GDAXI was up 0.8 percent. (Reporting by Michael Shields)