Nissan Motor to build a manufacturing plant in St Petersburg

Nissan Motor has confirmed that they would indeed be building a $200 million plant in St Petersburg. The company signed on a deal on Tuesday with Russia’s Economy Ministry.

Nissan is the second largest automaker in the Japanese market and they aim to produce 50,000 cars a year by 2009 at its first Russian plant.

Nissan Chief Executive Carlos Ghosn spoke about their plans for this market: “Nissan along with its partner Renault are emerging as the biggest investors in the Russian automotive sector.”

The company has already launched a plant to assemble Logan cars last year in Moscow and is one of the latest players to take advantage of this growing market.

Nissan would start building this new plant next year. They are considering making one SUV, one sedan and another car at this new plant in Russia.