Bank Of Baku

21 automobile factories to be built in Russia

21 automobile factories to be built in Russia
# 10 April 2012 10:46 (UTC +04:00)
Baku – APA-Economics. Russian Avtotor Company and Canada’s Magna Company plan to construct 21 automobile plants in Kaliningrad province of Russia, said the Chairman of Avtotor’s Board of Directors Vladimir Sherbakov at the meeting in Tolyatti.

According to him, 6 of them will produce automobiles, 15 – spare parts.

These plants are planned to produce 350,000 automobiles per year. 14 plants will be constructed by January 1, 2016 and these plants will produce 200,000 automobiles per year. Second stage will be completed in 2018.

€ 2.5 bln wil be invested in industrial part of the project. Besides, a city for 50,000 persons will be constructed in Kaliningrad. This project will cost € 500 mln.
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