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European Automaker Makes Multimillion-Dollar Investment in Russia

Peugeot-Citroen, the second-largest auto manufacturer in Europe, will construct a new factory in the Kaluga region in Russia, with full operations by 2010. According to the Russian news agency ITAR-TASS, a contract will be signed on January 29 for an investment of more than US$443 million (€300 million) to build a facility that will produce 75,000 Peugeot 207 and Citroen C4 automobiles. More than 2,600 jobs will be created from the investment.

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