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Russia’s Industry Ministry ready to sign special investment contract with Mercedes

February 07, 2017, 15:01 UTC+3

The contract with Mercedes has not yet been signed but all the decisions have been made, Russian Minister of Industry Denis Manturov said

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© AP Photo/Mel Evans

MOSCOW, February 7. /TASS/. Russian Ministry of Industry is ready to sign a special investment contract with Mercedes focused on production of vehicles in Russia and is waiting for an initiative from the producer, minister Denis Manturov said on Tuesday.

"The contract [with Mercedes - TASS] has not yet been signed but all the decisions were made. We assume colleagues themselves should be interested in this decision in the first instance. We assume they will put forward a signing initiative shortly and are ready for it," Manturov said.

The Russian automobile industry will embark on a recovering trend, considering the support of key branches of industry, the minister said. In particular, the Ministry of Industry expects sales and production of cars in Russia will start growing gradually.

Construction of Mercedes-Benz automobile plant in Moscow Region is expected to start in 2018, Manturov said earlier.

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