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Region to invest $73.5m to attract investment for new auto factories

15 Nov '07
The Ministry of Investment Policy of the Nizhny Novgorod regions local government has earmarked $73.5m to attract investors to build two new automobile factories.

Both sites are located outside Nizhny Novgorod.

Interfax reports that according to Dmitry Svatkovsky, Minister for Investment Policy of the Nizhny Novgorod region, the local government will invest around 1.8 billion rubles ($73.5m) in construction of communications and engineering infrastructure on the sites. Potential investors will be offered a turn-key project, Svatkovsky reported.
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