Japanese tyremaker Yokohama is expected to build a RUB12bn tyre plant in Russia’s Lipetsk special economic zone, a spokesperson for the zone’s operator told Prime-Tass on Tuesday.

The company was expected to start construction of the plant today (23 March).

The plant is expected to produce the first batch of tyres in April 2011 with first stage capacity of around 1.5m tyres, 2.9m at the second stage and 3.6m once construction is complete.

The zone is located in the Lipetsk Region. Special economic zones provide benefits for investors, including tax cuts.