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PSA Peugeot Citroen has signed a cooperation and investment agreement with the Kaluga Regional Government, at a Moscow ceremony in the presence of the Minister of Economic Development and Trade of the Russian Federation.  

The agreement defines the conditions under which a PSA Peugeot Citroën assembly plant will be built in the city of Kaluga, located 180 km south-west of Moscow. The new facility will be built on a 200-hectare site, of which 50 ha. will be dedicated to a supplier park. Investment will total 300 million for this assembly plant with an annual capacity of 150,000 units. Construction is due to start by the end of June this year.

Scheduled to come on stream in 2010, the new plant will produce medium size cars (no models mentioned so far) to meet the strong growth in demand for this segment, which accounts for 60% of cars sold in Russia.