AvtoVAZ needs $1.13bn in investments

It is necessary to invest $1.13bn in production programs of AvtoVAZ over the next 5 years, Mikhail Moskalev, the company's Vice President for strategic and corporate management, declared today.

According to him, some $230m in investments is necessary for the enterprise every year. For example, $376m is necessary to start production of cars of the Kalina family. Preparations for manufacturing cars of the new C series requires about $50m and some $387m is necessary for implementing other investment projects. About $319m should be invested to modernize the current production facilities and install information technologies.

As reported earlier, last year the car manufacturer produced 702,966 automobiles, which was 54,347 less than in 2001.

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