Toyota opens new car plant in St.Petersburg, Russia

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Japanese auto giant Toyota will open a $160 million factory in St. Petersburg producing 20,000 cars per year on Friday, the city administration announced.

The plant, producing Toyota Camry mid-size cars, will employ around 600 staff. Annual output could be raised to 50,000 in the next few years, and eventually to 200,000. The agreement to build the facility was signed in April 2005 by Toyota, the Russian government and the St. Petersburg administration. Two other Japanese automakers, Suzuki and Itochu, signed a deal with Russia’s Economic Development and Trade Ministry this summer to assemble Suzuki cars in St. Petersburg. The plant’s construction is set to begin in 2009. (rian.ru)

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