. Nissan Finalizes Plans for New Manufacturing
Plant in St. Petersburg, Russia
ST. PETERSBURG,
Russia - Nissan Motor Co., Ltd. today finalized its plans
to build a new manufacturing plant in St. Petersburg, Russia
by signing an agreement with the Ministry of Economic Development
and Trade of the Russian Federation (MEDT).
The agreement
(decree 166) was signed by Herman Gref, Minister of Economic
Development and Trade of the Russian Federation and Nissan
President and CEO, Carlos Ghosn. In addition, Ms. Valentina
Matvienko, Governor of St. Petersburg, joined Mr. Ghosn
to sign a Memorandum of Understanding with the St. Petersburg
Government.
The decree 166
covers granting incentives for carmakers related to the establishment
of local production facilities (referred to as 'industrial assembly').
The incentive includes a number of customs duties privileges for
the importation of component parts. In accordance with the Memorandum
of Understanding, Nissan will be given the status of strategic investor.
The signing ceremony
was conducted within the framework of the International Economic
Forum, which took place this week in St. Petersburg, representing
Russia's integration into the international economic system.
Nissan first unveiled
its plan to invest $200 million (5.5 billion Rubles) in a new assembly
plant in St. Petersburg, Russia on April 25th, 2006. Production
will begin in 2009 and when fully operational, the plant will employ
750 people with a currently planned capacity of up to 50,000 units
per year. The plant will produce at least three different models
specifically adapted for the Russian market.
"In signing this agreement,
Nissan is committing to contribute significantly to the development of the
Russian car market," said Ghosn. "Through the creation of new employment
and investment in the local community, Nissan is making a confident statement
about its operations in Russia. We look forward to a long and mutually-beneficial
relationship with the people of St. Petersburg," continued Ghosn
Established in August 2003,
Nissan Motor Rus (NMR) is a Nissan national sales company. Based in Moscow,
NMR began commercial operations on January 1, 2004 and currently employs
100 people. NMR distributes Nissan vehicles and parts across the Russian
dealer network, which currently comprises around 30 sales outlets. In 2003,
Nissan sold 9,470 units. Following the establishment of its wholly-owned
national sales company, sales grew significantly in 2004 (28,436 units)
and continued in 2005 (46,485 units). Russia will become the first European
market to offer the Infiniti luxury brand with a planned launch in the Autumn
of 2006.
