Russian parts maker Plaza plans to spend around US$15m on a shock absorber plant in the automaking hub of St Petersburg.
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The city’s committee for economic development, industrial policy and trade said the plant would be located on a five-hectare site in the city’s Rybatskoye industrial zone.
Construction should be finished by 2011-2012 and the plant is expected to employ 300.
Plaza, established in 1992 and based in St Petersburg, is one of Russia’s largest producers of hydropneumatic shock absorbers, according to the Prime-Tass news agency.
The region is home to several foreign automakers’ plants, including pioneer Ford, and Toyota. Mitsubishi and PSA are building a joint venture factory there.
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