Motor manufacturer Hyundai has started plans to build its new logistics centre in Russia, according to a news agency in the country.
RIA Novosti has reported that the South Korean automaker is set to lay the foundation stone for the project in Nikolskoye – a village in the Dmitrov district of Moscow.
The company is hoping that the plant will contribute to sales of more than 300,000 vehicles each year once it begins manufacture in 2009, it added.
Speaking on behalf of the Moscow Region’s government press ministry, a spokeswoman outlined the details of the deal.
"The new logistics center will be built in mid-2009. The new Mobis Parts CIS storage facility will occupy an area of over 40,000 square meters. Investment in the construction will exceed $35 million," she said.
Hyundai has also announced that it will build a third plant in the US in order to increase sales in the country.