Peugeot-Citroen to build Russia car plant-paper

Newswire

MOSCOW, Aug 24 (Reuters) - French carmaker PSA Peugeot Citroen has decided to build a 200 million euro ($255 million) assembly plant in Russia because of booming demand for foreign cars, Vedomosti newspaper said on Thursday. Citing a government source, the paper said PSA would launch the plant in 2009 and would use it to assemble two models, the Citroen C4 and the Peugeot 307. It said Russia's Economy Ministry had already approved the investment plan, under which the firm will pay reduced ...

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