Samara Region, Bosch sign memorandum on auto components plant
SAMARA. Aug 1 (Interfax) - The Samara Region and Germany's Bosch signed a memorandum on cooperation Wednesday that regulates all aspects of the construction of a plant to manufacture automobile components, the regional government's press service reported.
The 200,000-square-meter plant will have three divisions - chassis, starters and generators, and diesel systems.
Construction is scheduled for completion at the end of 2014, and production is to begin in the first quarter of 2015.
It was reported earlier that Bosch plans to set up production in Samara geared toward the automotive and that the company plans to invest about 40 million euros in the project.
In addition to the plant, there are plans to build a residential neighbourhood for 80,000 people.
"The subsidiary Robert Bosch Samara has now been registered. An auction has been held for the development of the land [for the residential community], which is registered to Bosch. The project is ready, it will soon be submitted for government review. All of the technical rulings on connection to utility systems are in hand. The construction permit is expected to be received at the end of September," the region's Economic Development, Investment and Trade Minister Alexander Kobenko was quoted as saying in the statement.
In light of the project, there are plans to develop city infrastructure and launch an electric train service that will link the southern part of Samara, where the plant and residential development will be built, with other parts of the city.
