Nissan finalizes plans for new manufacturing plant in St. Petersburg, Russia.
St. Petersburg, Russia (June 13, 2006) - Nissan Motor Co., Ltd. today finalized its plans to build a new manufacturing plant in St. Petersburg, Russia by signing the Agreement with the Ministry of Economic Development and Trade of the Russian Federation (MEDT).
The agreement was signed by Herman Gref, Minister of Economic Development and Trade of the Russian Federation and Nissan President and CEO, Carlos Ghosn. In addition to the Agreement with the MEDT, Ms. Valentina Matvienko, Governor of St. Petersburg, joined Mr. Ghosn to sign a Memorandum of Understanding with the St. Petersburg Government.
The Investment agreement provides granting of customs privileges for component parts import for the industrial assembly of the cars. In accordance with Memorandum of Understanding Nissan will be given the status of strategic investor.
The signing ceremony was conducted within the framework of the International Economic Forum, which took place this week in St. Petersburg, representing the Russia?s integration into the international economic system
Nissan first unveiled its plan to invest $200 million (5.5 billion Rubles) in a new assembly plant in St. Petersburg, Russia on April 25th, 2006. Production will begin in 2009. When fully operational, the plant will employ 750 people with a currently planned capacity of up to 50,000 units per year. The plant will produce at least three different models specifically adapted for the Russian market.
Established in August 2003, Nissan Motor Rus (NMR) is a Nissan national sales company. Based in Moscow, NMR began commercial operations on January 1, 2004 and currently employs 100 people. NMR distributes Nissan vehicles and parts across the Russian dealer network, which currently comprises around 30 sales outlets. In 2003, Nissan sold 9,470 units. Following the establishment of its wholly-owned national sales company, sales grew significantly in 2004 (28,436 units) and continued in 2005 (46,485 units). Russia will become the first European market to offer the Infiniti luxury brand with a planned launch in the fall of 2006.
