"Under the contract, the investor guarantees to invest in the project at least 15 billion rubles. The period of a special investment contract is nine years, while the production is scheduled to start in 2019, the production capacity of the plant will amount to over 20,000 cars a year," the statement read.
The project realization will create more than 1,000 work places, the ministry said.
The contract presupposes manufacturing a whole range of cars and premium-class SUVs. Welding, painting, car assembly and chains of logistic operations are expected to be localized, according to the statement.
Daimler automotive corporation produces trucks jointly with Russian KAMAZ in the Republic of Tatarstan in Russia. Mercedes-Benz Sprinter Classic vehicles are produced in Nizhny Novgorod.
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