French automaker Renault on Monday launched the second production line at its Moscow Avtoframos facility, doubling its capacity to 160,000 cars per year.
Renault's investment in the capacity expansion totals $150 million. The French auto giant initially invested $250 million in the construction of its Moscow facility.
From March 1, Renault has also started the sale of its Sandero model produced by Avtoframos. The model was put into production in late 2009.
Avtoframos was established in 1998 on a parity basis between Renault and the Moscow government. The joint venture's corporate reorganization in 2006 increased Renault's stake in the facility to 94.1%. The Moscow government currently holds 5.9% in the venture.
In 2005, Avtoframos launched the production of Renault Logan sedans.
MOSCOW, March 1 (RIA Novosti)