Renault to commit 300 mln euro to AvtoVAZ - Putin
RAMBOUILLET, France |
RAMBOUILLET, France Nov 27 (Reuters) - Russia's Prime Minister Vladimir Putin said on Friday French car maker Renault (RENA.PA) will commit 300 million euros to ailing Russian car firm AvtoVAZ (AVAZ.MM) via a technology transfer.
He said Renault may in the future invest directly in AvtoVAZ, which is due to receive 50 billion roubles ($1.73 billion) in aid from the government.
Putin added AvtoVAZ and Renault also plan to start assembling Nissan models in Russia's Far East.
(Moscow Newsroom, + 7 495 775 12 42) ($1=28.87 Rouble)
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