Ten major carmakers to launch production in Russia - minister

[AGENDA21]

MOSCOW, April 15 (RIA Novosti) - About ten major foreign carmarkers are planning to assemble cars in Russia, the industry and energy minister said Saturday.

Viktor Khristenko told RIA Novosti that foreign investors were interested in opening plants near Moscow and St. Petersburg but refused to these name companies.

"Toyota, which signed a memorandum on its intention to build a plant near St. Petersburg is completing an agreement on its investments," he said. "Renault is also working in this direction and is set to finalize plans on its presence in the Moscow Region."

Khristenko said it was a different type of activity when Russian investors purchased a right to produce foreign cars and cited the production of Kia Spectra in Izhevsk in European Russia and Ssang Yong Rexton offroaders by Severstal Avto.

http://en.rian.ru/business/20060415/46447595.html