Venture
INDUSTRIES Inc, a US auto components and engineering specialist, is coordinating
a $250m plan to build 150,000 cars and 300,000 engines a year in Russia with output
to start in 2004, the company has told just-auto.com.

The innovative project would make budget family vehicles (designed by Venture)
and motors (licensed by Orbital Engine Corp Ltd of Perth, Australia) in Moscow
at OAMO ZIL (Zavod imeni Likhachova or Factory named after Likhachov). ZiL,
mainly a producer of trucks and military vehicles, is known best for limousines
handcrafted for Russian and Soviet leaders.

Following a memorandum of understanding for the deal inked on 3 June 2000, Venture
founder and president Larry Winget recently signed contracts with ZiL general
director Valery Nosov and Moscow mayor Yuri Luzhkov, the US company said. (The
city owns a controlling stake in ZiL.)

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