ST. PETERSBURG, Russia (AP) -- The regional governor of Russia's No. 2 city has signed a memorandum of understanding with Germany's MAN automaker for building a euro25 million ($36 million) truck assembly plant in St. Petersburg.
Gov. Valentina Matviyenko signed the document Thursday with MAN Truck & Bus AG CEO Georg Pachta-Reyhofen.
MAN said in a statement the plant will start production next year. In the medium-term it will have an annual production capacity of about 6,000 trucks. They will be sold in Russia and other ex-Soviet nations.
MAN said that by as early as 2012 about 25 percent of its trucks sold in Russia will have been produced locally. It will also develop local suppliers.
St. Petersburg already hosts production plants of Ford, Nissan, Toyota, Hyundai and Scania.
Gov. Valentina Matviyenko signed the document Thursday with MAN Truck & Bus AG CEO Georg Pachta-Reyhofen.
MAN said in a statement the plant will start production next year. In the medium-term it will have an annual production capacity of about 6,000 trucks. They will be sold in Russia and other ex-Soviet nations.
MAN said that by as early as 2012 about 25 percent of its trucks sold in Russia will have been produced locally. It will also develop local suppliers.
St. Petersburg already hosts production plants of Ford, Nissan, Toyota, Hyundai and Scania.