Sollers $100m VEB hope posted | Volga, Industry, manufacturing

Far East | Industry, manufacturing

Sollers’ “$100m” VEB hope posted

14 Jul '09
Tatarstan-based auto maker Sollers has plans to secure a Vnesheconombank (VEB) loan to launch production of Isuzu trucks, Fiat Ducato cars and SsangYong SUVs in Primorsky Region, Vedomosti reported, citing a company source.

An amount to be taken out and total investment in the project have yet to be announced. Ernst & Young’s Ivan Bonchev estimates an investment to be between $80m and $100m.

First Sollers vehicles are reportedly expected to be assembled in Vladivostok at the year end.