. Nissan Finalizes Plans for New Manufacturing
Plant in St. Petersburg, Russia
St. Petersburg,
Russia - Nissan Motor Co., Ltd. finalized its plans to build
a new manufacturing plant in St. Petersburg, Russia by signing
an agreement with the Ministry of Economic Development and
Trade of the Russian Federation (MEDT).
The agreement
(decree 166) was signed by Herman Gref, Minister of Economic
Development and Trade of the Russian Federation and Nissan
President and CEO, Carlos Ghosn. In addition, Ms. Valentina
Matvienko, Governor of St. Petersburg, joined Mr. Ghosn
to sign a Memorandum of Understanding with the St. Petersburg
Government.
The decree
166 covers granting incentives for carmakers related to
the establishment of local production facilities (referred
to as 'industrial assembly'). The incentive includes a number
of customs duties privileges for the importation of component
parts. In accordance with the Memorandum of Understanding,
Nissan will be given the status of strategic investor.
The signing
ceremony was conducted within the framework of the International
Economic Forum, which took place this week in St. Petersburg,
representing Russia's integration into the international
economic system.
.
.
Nissan first unveiled
its plan to invest $200 million (5.5 billion Rubles) in a new assembly
plant in St. Petersburg, Russia on April 25th, 2006. Production
will begin in 2009 and when fully operational, the plant will employ
750 people with a currently planned capacity of up to 50,000 units
per year. The plant will produce at least three different models
specifically adapted for the Russian market.
"In signing this agreement,
Nissan is committing to contribute significantly to the development of the
Russian car market," said Ghosn. "Through the creation of new employment
and investment in the local community, Nissan is making a confident statement
about its operations in Russia. We look forward to a long and mutually-beneficial
relationship with the people of St. Petersburg," continued Ghosn.
