From United Press International
MOSCOW — Volkswagen AG and General Motors Corp. plan to open car factories in Russia, MosNews reported Tuesday.
VW has signed an agreement to build a $472 million plant in Kaluga, not far from Moscow, and GM is expected to invest at least $115 million in a car plant near St. Petersburg.
The VW plant will employ 3,500 and have an annual output of 115,000 vehicles. Details of the GM plant were not immediately available.
Copyright 2006 United Press International. All Rights Reserved.
_______________________________________
Click here to view the rest of today’s headlines.