Russian automaker AvtoVAZ expects to post a net profit of 3.5 billion rubles in 2000, with the majority of it set to be reinvested into production, writes Russia`s Interfax (23/10/00) citing Vladimir Kadannikov, Chairman of the AvtoVAZ Board of Directors.

Kaddinikov - in an interview with the magazine Profil - said that Russia`s largest car manufacturer is to begin manufacture of the `Kalina` automobiles in 2005.

With a price tag of $7,000 - and an investment totalling $800 million - these investments would be returned within five years, he said.