Moscow to Sell Its Stake in Avtoframos
Post date:
Thursday, December 8, 2011 - 18:05Country:
Russian Federation
According to Ulyanov, Moscow will sell its stake in Avtoframos by 2013/2014.
OAO Avtoframos was established in 1998, initially equally owned by Renault and the government of Moscow. The facility currently builds the Fluence, Logan, Megane and Sandero vehicles, and will start production of three additional models in the near future. Renault recently announced to invest €100 million to boost production capacity of the plant from the current 160,000 to 175,000 units.
The Moscow government intends to sell its 5.4 percent stake in OAO Avtoframos, Alexei Ulyanov, the Deputy Head of the Moscow Department of Science, Industrial Policy and Entrepreneurship announced