Yokohama Rubber and Itochu sign up for tyre plant in Lipetsk region
Published: 27 August, 2009, 15:12
TAGS: Investment, Markets, Retail, Regional development
Japan’s Yokohama Rubber and Itochu Corporation have agreed to build a 4.8 billion rouble tyre plant in the Lipetsk region.
The plant will be constructed in a Special Economic Zone in the region, 500 klm south of Moscow, and when completed will have a capacity of 1.4 million tyres per year. Construction is scheduled to commence in March 2010, at a 24 Hectare site, with plant completion scheduled for September 2011.
The company which will build the plant and market the tyres will be 80% owned by Yokohama with the other 20% owned by Itochu, and has a charter capital of 3.76 billion roubles. The two companies have also agreed to increase Itochu’s investment into Yokohama Russia to 20%.
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Very informative story. I do enjoy your business section. It is indeed a respite from the gloomy world to see economic cooperation linking Eurasian continent in a way not easily imagined not so long ago. This constitutes progress, not only beneficial to the economies of the two countries. It also moves the planet, hopefully irreversively, towards the beneficial interdependence and mutual understanding.