Russia may issue 12–14 bln rbl loan for new Chevrolet Niva project

SAMARA, Jun 7 (PRIME) – The Russian government may grant a 12–14 billion ruble loan to support a project for production of a new generation Chevrolet Niva cars, suspended by GM-AvtoVAZ, a joint venture of General Motors and AvtoVAZ, in March 2015, Samara Region Governor Nikolai Merkushkin told reporters Tuesday.

“We are talking about a 12–14 billion ruble credit…There was an order to Deputy Prime Minister Igor Shuvalov to study options of supporting the project,” he said.

The projected capacity of the new Chevrolet Niva plant is expected to reach 120,000 cars per year, or about 100 billion rubles, he added.

GM-AvtoVAZ suspended construction of the new plant in March 2015 due to economic troubles and froze the project. Production of new Chevrolet Niva cars was to be launched in early 2017.

(65.7894 rubles – U.S. $1)

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