Uralvagonzavod preparing to assemble cars in Latvia

17.09.2012 — News

SVERDLOVSK REGION.

The Uralvagonzavod Research and Production Corporation, OJSC plans to open a plant in Latvia to assemble SKD railroad cars in March of 2013. According to Oleg Siyenko, the corporation's CEO, the factory will be capable of producing up to 2,500 cars per year.

UVZ's press office told RusBusinessNews that the business was established in the city of Jelgava at the site of the former RAF minibus plant. The parties have already signed a statement of intention to create a joint venture.

The precise amount that has been invested in the project has not yet been made public, but the sum of 15 million euros had been previously mentioned.