MOSCOW, March 31. /TASS/. Toyota’s Russian plant in St. Petersburg has been transferred to the state as represented by FSUE NAMI, a state research center under the Industry and Trade Ministry, according to a statement released by the ministry on Friday.

"Toyota’s production facility in St. Petersburg at this stage has been transferred to the state as represented by FSUE NAMI under the Industry and Trade Ministry. The agreement stipulates full transfer of ownership of the plant's building, equipment and land," the statement reads.

Options to resume production at the facility shortly are under development, the ministry noted.

Russian Deputy Prime Minister, Industry and Trade Minister Denis Manturov announced plans to transfer the plant to NAMI in March.

As the Industry and Trade Ministry reported in December 2022, the plant in St. Petersburg, which had previously suspended operations, was being mothballed. The ministry noted that, together with the St. Petersburg city administration, they are working on potential options for developing the production site.

In September 2022, Toyota Motor Corporation announced its decision to close its assembly plant in St. Petersburg. In mid-November, the plant began laying off employees, who had numbered over 1,900 at that point. The automaker's plant was designed to produce 100,000 cars a year. It was commissioned in late 2007 to produce the RAV4 and Camry makes and models under a special investment contract with Russia’s Industry and Trade Ministry. Operations at the plant have been suspended since March 2022 due to supply chain gaps.