Finnish president: Dialog with Putin is direct and clearWorld July 25, 18:22
Summer surprises: Arctic swelters in heatwave, while resorts soak in rainBusiness & Economy July 25, 18:03
Sports minister says RUSADA doping inspectors started testing athletesSport July 25, 17:25
Arctic shelf development tops agenda of Murmansk international business weekBusiness & Economy July 25, 17:08
Trump backs investigation into Kiev’s meddling attempts to sabotage his election campaignWorld July 25, 16:57
Erdogan announces deal with Russia on S-400 air defense missile systemsMilitary & Defense July 25, 16:16
Austria concerned about US attempts to achieve own economic ambitions via Russia sanctionsBusiness & Economy July 25, 15:41
Russia may appeal ECHR’s decision on compensation for defendant in Nemtsov murder caseSociety & Culture July 25, 15:23
Moldovan president, Russian envoy to hash over bilateral ties and breakaway TransnistriaRussian Politics & Diplomacy July 25, 14:43
ST. PETERSBURG, June 18 (Itar-Tass) - The government of St. Petersburg and Magna corporation will sign a memorandum of investor’s intent to build a plant producing car components in the second-biggest Russian city. It will be signed within the framework of the Petersburg International Economic Forum, chairman of the committee for industrial policy and innovation Maksim Meiksin said.
“The project envisages a sizable investment of several hundred million euros,” he said without giving the details of the agreement.
The biggest in the world supplier of car components Magna has three plants in St. Petersburg.
The key clients of the production site in Shushary are General Motors, Nissan, Ford in Petersburg and the Leningrad region as well as Volkswagen in Kaluga. The plant in Kolpino produces plastic details, in particular for Ford and Nissan.
An agreement with the Kirov Plant on joint with Skoda production of metro coaches for the Petersburg metro is planned for the signing within the framework of the forum. The total amount of investment in that project is estimated at one billion roubles.