Iveco and Russian industrial group Samotlor-NN have started building a plant in Nizhni Novgorod, on the Volga River in western Russia, according to ANSA.
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The plant will make light commercial vehicles under the Iveco Daily brand. The new facility will be managed by the joint venture between Iveco and Samotlor-NN called Saveco.
According to the chairman of Iveco, Paolo Monferino, the company plans to invest EUR50m in the plant.
The facility will have a floor space of 20,000 sq m and will go on stream in the first quarter of 2009. In 2010 the plant is expected to make 25,000 vehicles.
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