GM-AvtoVAZ to put up to $500m in Russia plant-paper

Newswire

MOSCOW, Sept 30 (Reuters) - A Russian joint venture of General Motors and AvtoVAZ plans to invest up to $500 million in a new engines and parts factory, a newspaper said on Thursday. Vedomosti business daily quoted sources close to the companies as saying the factory, in the city of Tolyatti in Russia, should start work in 2007. The paper said the joint venture, GM-AvtoVAZ, would make an official announcement in November. The Russian company was not immediately available for comment.

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