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Petersburg government, Magna to sign memorandum on plant construction

June 18, 2013, 16:18 UTC+3

The plant will be producing car details

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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.

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