New Industries - An Important Contribution to the Regional Economy

      New Industries - An Important Contribution to the Regional Economy

  PR Newswire

  KALUGA, Russia, December 21, 2012

KALUGA, Russia, December 21, 2012 /PRNewswire/ --

The first foundation stone of what in three years' time will become
Volkswagen's new plant for the production of internal combustion engines in
Kaluga was laid on December 11. The event was attended by Russian Prime
Minister Dmitry Medvedev, Kaluga Region Governor Anatoly Artamonov, and a
board member of Volkswagen AG responsible for production, Dr. Michael Macht.

As of 2015 this plant will be providing Russian-made engines for the
Volkswagen car factory in Kaluga and for a contract manufacturing facility in
Nizhny Novgorod.

The new plant will take up an area of ​​30,000 square meters in the industrial
park Grabtsevo next to the Volkswagen car plant in Kaluga. The expected annual
production capacity is 150,000 engines. The first engine is to be assembled at
the beginning of 2015.

Volkswagen is the largest foreign investor into the Russian automotive market.
Since 2006 the concern has invested nearly a billion euros into local
production and the development of new models for Russia. Over three years to
come the company intends to invest in Russia another 840 million euros. About
250 million of this amount will be used to build the new internal combustion
engines plant.

The Russian prime minister congratulated the region's governor upon the launch
of another major investment project in the region. Dmitry Medvedev spoke
highly of the efforts by the governor and the regional authorities to attract
funding. The new industrial facility spells new jobs and a modern corporate
culture, he said.

Governor Anatoly Artamonov reviewed the experience of creating industrial
parks in the region. With their emergence "investors have their problems
resolved more easily," he stated. Investments have already created 22,000 new
jobs and tripled the region's budget per resident. This year, the total
investment in the economy of the region will reach about 2 billion euros.

Official information is available on a site of regional administration:
http://www.admoblkaluga.ru

Contact: Office of Media Relations of Administration of the Governor of the
region Contact person: Specialist of department of advertising and exhibition
activity, Churikova Olga, e-mail: churikova.o@gmail.com, tel: +7(4842)27-87-85
 
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