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VLADIVOSTOK, September 2. /TASS/. Russia and joint venture Mazda Sollers signed a contract for execution of an investment project to develop and upgrade an industrial engines and motor vehicles production facility in the Far East. The agreement was signed on Friday at the Eastern Economic Forum.
According to the contract, the investor will contribute over 2 bln rubles ($30.7 mln) to development of the engine production facility in 2018 with the capacity of 50,000 engines per year.
"This project clearly evidences Russian companies are becoming competitive sites for production of automobiles and key assemblies and are integrating with global supply chains in the world’s automobile industry," press service of the Russian Ministry of Industry said in the comment.