Economics Ministry are set to sign an agreement on the construction of a car assembly plant in St. Petersburg.
The agreement will be signed June 13, during the International Economic Forum in Russia's second largest city, Economic Development and Trade Minister German Gref said Saturday.
St. Petersburg Deputy Mayor Mikhail Oseyevsky said Nissan would sign not only a $200 million investment agreement with the federal economics ministry, but also a memorandum on cooperation with the city's administration.
Nissan is set to produce 50,000 vehicles per year after the plant is launched in October 2008.
Other foreign automakers active in Russia include Ford, which currently assembles its cars in Vsevolozhsk, outside St. Petersburg; Renault in Moscow; and General Motors, BMW and Kia in Kaliningrad, Russia's exclave on the Baltic Sea.
Germany's Volkswagen is also planning to launch production in Russia soon. Russia's SeverstalAvto has signed licensing agreements with Fiat, Ssang Yong and Isuzu, while AvtoVaz and General Motors jointly manufacture the Chevrolet Niva 4WD.
