.Nizhny Novgorod opens Russia-Japan venture on car radiators, heaters.

12/10 Tass 30

NIZHNY NOVGOROD, October 12 (Itar-Tass) - Nizhny Novgorod unveils on
Tuesday the Russian-Japanese enterprise TRM on developing and making car
radiators and heaters for the car industry, Itar-Tass learnt at the
administration of the Nizhny Novgorod Region.
The corporation Russkie Machiny and the Japanese company T.RAD Co.
Ltd. are partners of the joint venture.
The annual capacity of the Nizhny Novgorod venture is calculated at
making 600,000 units of production with a prospect for boosting the volume
of production to one million. The Gorky Motor Factory will be the main
consumer of goods of the new enterprise. The joint venture plans
deliveries also to other Russian and foreign plants, manufacturing motor
vehicles.
According to the administration, the project of building the joint
venture was backed by the region and received the status of a priority
undertaking. The planned volume of investments in the project will total
736 million roubles. The project will help to create 100 new jobs.
The state support for the project from the regional administration
provides for privileges on property tax and revenue tax for a period of up
to September 30, 2015. The total sum of privileges - 53 million roubles
including 46.5 million roubles of privileges on property tax and 6.5
million roubles on revenue tax. It is planned that tax revenues to the
regional budget over the period of project implementation will amount to
19 million roubles. When the project is completed, the annual budget
revenues are planned at 45 million roubles.
TRM is the only enterprise in Russia of the Japanese T.RAD Co. LTD,
the world leader in production and deliveries of heat exchangers for
international car giants, including Toyota, Honda, Komatsu and Mitsubishi
Motors.
The opening ceremony of the new venture will be attended by Governor
of the Nizhny Novgorod Valery Shantsev, president of the T. RAD Company
Hiromi Kano, president of the GAZ Group Bo Andersson, representatives of
the Japanese embassy, the Japanese Centre and of Russian related
ministries.
-0-bur/kud


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