Hyundai plans to launch 13 bln rbl engine plant in St Petersburg - Engineering & Hi-Tech - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Hyundai plans to launch 13 bln rbl engine plant in St Petersburg

ST. PETERSBURG, Oct 10 (PRIME) -- South Korean car producer Hyundai plans to launch a 12.7 billion ruble gasoline engine plant in the Russian city of St. Petersburg in October 2021, Oh Seung-hun, CEO of Hyundai WIA Rus, said late on Wednesday at a meeting with the cityТs Deputy Governor Yevgeny Yelin.

УWe plan to open a plant with a production capacity of 330,000 engines per year that would operate in three shifts. We plan production at the level of 233,000 engines, of which 20% will be exported. The launch of mass production is scheduled for October 2021. The plant will create more than 500 new jobs. Investment will stand at about 12.7 billion rubles,Ф he said.

A spokesperson for the government of St. Petersburg said that the plantТs construction is not included in a 16.6 billion ruble special investment contract signed with Hyundai in 2018, as the authorities are now discussing a special investment contract with Hyundai WIA, part of Hyundai group of companies.

(65.0976 rubles Ц U.S. $1)


10.10.2019 08:43
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