ST. PETERSBURG, Sept. 3 (Xinhua) -- Japanese auto parts giant Unipres confirmed Wednesday that it will be opening a production facility in Russia's northern capital St. Petersburg in 2016.
According to the official site of St. Petersburg government, construction has begun at a site near Nissan's St. Petersburg factory. Unipres is a major parts supplier for Nissan vehicles.
The total size of the investment amounts to 2 billion rubles ( 54 million U.S. dollars), with welding and assembly work on up to 80,000 vehicles per year also envisaged as part of the deal.
St. Petersburg Governor Georgy Poltavchenko expressed his satisfaction with the new Unipres deal, hoping that it would be a major boost for the local auto industry.
Around 400,000 cars are produced in St. Petersburg each year, accounting for around 20 percent of the total market share in Russia.
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