EBRD may issue $438 million loan for Russian car plant construction

© RIA Novosti . Vitaly Belousov / Go to the photo bankEBRD may issue $438 million loan for Russian car plant construction
EBRD may issue $438 million loan for Russian car plant construction - Sputnik International
Subscribe
US
India
Global
The European Bank for Reconstruction and Development (EDRD) could issue a loan worth up to 320 million euros ($438 mn) to carmaker PCMA Rus to develop its car plant in the central Russian town of Kaluga, the bank said.

The European Bank for Reconstruction and Development (EDRD) could issue a loan worth up to 320 million euros ($438 mn) to carmaker PCMA Rus to develop its car plant in the central Russian town of Kaluga, the bank said.

PCMA Rus is a joint venture established in Russia between the carmakers PSA Peugeot Citroen and Mitsubishi Motors Corporation. The project to build the car factory is estimated at 500 million euros ($685 mn).

"When fully operational in 2013, the factory will employ around 3,000 people with a planned capacity of up to 125,000 units per year," the EBRD said on its website.

The plant will produce mid-sized passenger cars and SUVs sold under the brands Peugeot, Citroen and Mitsubishi.

MOSCOW, November 12 (RIA Novosti)

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала