The Russian government will grant several hundred million euros to support domestic auto parts producers, Russian tycoon Oleg Deripaska, head of the metals-to-timber conglomerate Basic Element (BasEL), said on Thursday.
Earlier on Thursday Russian Prime Minister Vladimir Putin discussed support for auto part producers with Deripaska during his visit to a GAZ car-making plant.
"Owing to the fact that auto parts producers are experiencing serious financial problems, their balance sheets are strained as they can't receive financing. Today there will be an announcement about support for car part producers, those supplying car parts to us and to other enterprises," Deripaska said
Deripaska said financial aid was the quickest way to raise the quality and reliability of cars. He added that "in general that investment is small enough as it amounted to hundreds of millions of euros for the whole country".
NIZHNY NOVGOROD, December 23 (RIA Novosti)
