L’Oreal to build €45 mln cosmetics plant near Kaluga
The French cosmetics company L’Oreal is to invest €45 million ($69.9 million) in a project to build a cosmetics plant outside Kaluga, a city 190km (118 miles) southwest of Moscow, the local administration said on Tuesday.
“The government of the Kaluga Region and the French cosmetics company L’Oreal signed on Monday an investment agreement to build a cosmetics plant in the region. The total sum invested is expected to be €45 million,” the administration said in a statement. The L’Oreal plant, to be built by late 2010, will occupy 15 hectares (37 acres) at the Vorsino industrial park. It will roll out 300 million units annually, mostly hair-care items.
L’Oreal plans to use local materials and establish partnerships with packaging producers and suppliers of other services. Region governor Anatoly Artamonov has assured the French partners that all the necessary support will be rendered to the project. Headquartered in Paris, L’Oreal is the world’s leading company in cosmetics and beauty products.
The Kaluga Region is a popular site among global industries for localizing their production in Russia. A number of global leading carmakers, including Volkswagen, Peugeot-Citroen and Mitsubishi, have plants in the region. (rian.ru)
ADVERTISEMENT
Farm Input Prices Climb 5.4% in Q1-Q3
India's G20 Presidency, Dawn of New Multilateralism - Narend...
Real Estate Sales May Be Stronger Than Usual in December
TikTok Commits to Improved Consumer Communication in Hungary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
