Daimler to invest 15 bln rbl in Mercedes car plant near Moscow

MOSCOW, Feb 21 (PRIME) -- Daimler AG intends to invest at least 15 billion rubles in a Mercedes light vehicles-producing plant in the Moscow Region in the next nine years, Russia’s Industry and Trade Ministry said in a statement on Tuesday.

A special investment agreement implies building of a full-cycle facility to produce premium light vehicles and sports utility vehicles, including localization of manufacturing operations like welding, painting and assembling, as well as logistic operations.

“According to the contract, the company guarantees to invest no less than 15 billion rubles in the project during a special investment agreement term of nine years. The facility with a capacity of 20,000 cars per year is to be commissioned in 2019. The project will create 1,000 jobs,” the statement read.

(58.0967 rubles – U.S. $1)

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