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According to Michael Macht, member of the Board of the German Volkswagen, the company is going to invest 250M Euros into the construction of an engine plant in the city of Kaluga. The remaining funds will be invested into auto assembly plants of the company in Kaluga and Nizhny Novgorod.
In August of 2012, the agreement on the construction of the engine plant was signed by Volkswagen’s Chairman of the Board Martin Winterkorn and Governor of Kaluga Region Anatoly Artamonov. The facility with the projected capacity of 150,000 engines will start operating in 2015.
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