Rostec and Pirelli Tyre Russia will invest €100 million in the expansion

The state company Rostec and Pirelli Tyre Russia have signed a memorandum, proposing expansion plans to the production capacity of the tyre factory in Voronezh. The production volume will be risen from 2 million to more than 4 million units per year, in order to satisfy the predicted growth in Russian and international markets. Approximately €100 million will be invested, in order to fulfil the development plan at Voronezh plant.

“Russia is an important market for us and with the support of the state company Rostec, one of our key partners, we will continue to develop, taking the opportunities the market has to offer to us” – said the executive vice-president and the general director of Pirelli: Marco Tronchetti Provera.

Approximately €100 million will be invested in the project, in order to reach the announced figures for the development of the Voronezh plant. Pirelli Tyre Russia will be the investor, supported by the state company Rostec, which holds 25% capital of the enterprise. As stated by Pirelli Tyre Russia, attracting additional large-scale financial investment in Russia will not affect the investment plan of Pirelli for 2017-2000 period as a whole.

Source: RusAutoNews.Com