$1.1bn car factory to be put up in Sverdlovsk Region

7 October 2014 (14:17)

October 7, 2014. The Chinese car manufacturer Hawtai Motor is planning to put up a $1.1bn car assembly factory in Russia. Sverdlovsk Region is considered among the possible sites, RBC reports.

Hawtai Motor Corporation is currently looking for a construction site for a factory with production capacity of at least 100,000 automobiles, which means the area required for the project stands at a hundred hectares. Sverdlovsk Region, Tatarstan, Samara Region, and Karachay-Cherkessia have all applied as candidate hosting areas.

‘Sverdlovsk Region could be one of the options, but we need to understand what preferential terms the local authorities could offer us when we set up a new production facility there. We are to make a decision on where to construct the plant within the following several months,’ says Assistant to the President of the carmaker’s International Department Geoffrey Chzhan.

The plant will take one year to build and five years to pay off.

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