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September 23, 2009

RUSSIA: Firm raising $140m for St Pete parts park

Russian company Sestra River Developments plans to raise US$140m for the construction of an automotive component industrial park in the 'Russian Detroit', St Petersburg, Sergei Fiveisky, first deputy director of the city's committee for economic development, said.

Russian company Sestra River Developments plans to raise US$140m for the construction of an automotive component industrial park in the ‘Russian Detroit’, St Petersburg, Sergei Fiveisky, first deputy director of the city’s committee for economic development, said.

The city government on Tuesday approved design and survey work on a site of about 16 hectares intended for the park, Fiveisky added.

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