ULYANOVSK, January 21. /TASS/. The Bridgestone company will open its first plant in Russia in the Ulyanovsk region in the second half of 2016, an official with the corporation of the region development told TASS.
The investments in the project will amount to 12.5 bln rubles ($147.7 mln).
"Currently, the equipment assembly and pre-commissioning activities are being completed on the site, after that the required paper work must be done. In total 12.5 bln rubles will be invested in the project," - the official said.
The official said that after reaching its full production capacity (approximately in 2019 -TASS) the plant will produce 2 million tires a year and in case there are enough orders the production can be doubled to 4 million tires.
The enterprise will create about 800 jobs for regional residents. The plant will be built in cooperation with Mitsubishi Corporation.
Bridgestone was founded in 1931 in Japan. The company is regarded as the world leader in production of car tires, it owns 155 plants and 4 maintenance centers in 27 countries.