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Nissan to start building Russian car plant

Tue Jun 5, 2007 9:41am EDT

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ST PETERSBURG, Russia, June 5 (Reuters) - Nissan Motor Co. (7201.T), Japan's second-largest car maker, will start building a $200 million car plant in St. Petersburg on June 24, after signing a deal a year ago with Russia's Economy Ministry, an industry source told Reuters.

"A groundbreaking ceremony will be held on June 24", he said.

Nissan plans to produce 50,000 cars a year by 2009 at its first Russian plant for the nation's booming car market.

The company has not said yet which models will be assembled in the Petersburg plant. A Russia's Economy Ministry official earlier said it would be the Almera and X-Trail. Nissan chief executive Carlos Ghosn said last year he envisaged three models being produced at the plant. Ford (F.N) already has a plant near St Petersburg and Toyota (7203.T) and GM GM.N are now building plants there.

Japanese carmaker Suzuki Motor Corp (7269.T) and trading house Itochu Corp (8001.T) are expected to sign a memorandum on building a car plant in St Petersburg with Russia's Economy Ministry on June 8.

((Writing by Denis Pinchuk, editing by Greg Mahlich; tel +7 495 775 1242)) Keywords: NISSAN RUSSIA/

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