Korea's Hyundai Motor Company and St-Petersburg Government signed a MOU on the construction of a car making plant in the territory of the city. The city authorities plan to provide Hyundai with a site in the 'Kamenka' industrial zone. Construction of Hyundai's second phase project is to begin at the end of 2010-2011. The site of the area of 200 hectares allows further expansion. The first phase is to reach its projected capacity of 100 thousand cars by September 2010. The company has not decided yet which models will be manufactured. Car components will be made by Hyundai Mobis, the member of Hyundai Kia Automotive Group.

News source: Engl.fis.ru
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