Ford Sollers, the Russian joint venture of U.S. carmaker Ford, said on Tuesday it would invest $274 million to build a new powertrain plant in the republic of Tatarstan, expected to employ some 500 workers.
The factory will be based in the Tatarstan town of Yelabuga, where Ford Sollers already produces vehicles, and it will manufacture three different versions of the 1.6 liter Duratec engines from December 2015.
Formed in late 2011, the joint venture operates three assembly plants in Russia. In 18 months, Ford Sollers has advanced from building just two cars — the Focus and Mondeo — to seven today, including the Galaxy, S-MAX, Transit, Kuga and Explorer.
(Reuters)
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