MOSCOW, Mar 29 (PRIME) -- Toyota has filed a request to sign a special investment contract with the Industry and Trade Ministry, and plans to invest 20 billion rubles in production in Russia over the next 10 years, Kommersant business daily reported on Friday.
Sources familiar with the matter told Kommersant that the company plans to upgrade its production in St. Petersburg, and expects exports to account for 10% of a 1 trillion ruble revenue that it would make in Russia during the contract’s period.
The company is also to localize production of some components, including electric window rollers, airbags, and exhaustion systems, Kommersant reported, adding that Toyota would also start working with local suppliers of car components.
(64.8012 rubles – U.S. $1)
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