OREANDA-NEWS. April 12, 2012. Russia's largest producer of cars “Avtotor”, in cooperation with the Canadian company Magna, plans to build 21 car plants in the region. The enterprise will produce 350 thousand cars per year. 

 The new automotive cluster, which will unite the plants of the already existing partners of “Avtotor” - BMW, General Motors and Kia, 6 companies will be engaged in the production of cars in the full cycle, the remaining 15 plants - will produce automotive components.

 Along with the industrial facilities the city on 50 thousand inhabitants will be built in the area. According to the Chairman of the Board of Directors “Avtotor” Vladimir Shcherbakov, the financing of the “civil side” will cost 500 million euros, while the investment in the industrial part of the project will amount to 2.5 billion euros.

 The first phase of the project foresees the creation of production facilities for 200 thousand, and construction of 14 plants till January 1, 2016. The second phase should be completed by 2018.