The Chinese state company Norinco is planning to invest $460 million into creating a car assembly line on the territory of Dagestan on the basis of the ‘Aviaagregat’ factory, IA ‘Dagestan’ reports. The contract has already been signed between the republic’s authorities and representatives of the Chinese holding.
According to preliminary estimates, the factory will produce 30 thousand vehicles annually. In future the investors plan to switch from assembling imported components to full-fledged production, including manufacturing of the components.
