Burgos, Spain -- Spain's Grupo Antolin, one of Europe's largest producers of plastic auto interior parts, plans to invest Euro 30 million ($40 million) to build its second plant in Russia. This is likely to be located in the Tosnensky area of the St Petersburg region.
The new plant will have an area of 25 000 sq.m, and is expected to be commissioned in 2015.
The majority of future production of the new plant will be supplied to leading global automakers which operate in the St. Petersburg region. Examples include Toyota, GM and Nissan.
According to Ernesto Antolin Arribas, Grupo Antolin's vice-president, the company has already reached agreements with the automakers.
Grupo Antolin already operates a plant in St Petereburg's Utkina Zavod industrial zone, commissioned in 2011. However, its capacity is not enough to meet the ever growing demand for auto parts in Russia.
The company expects that the new plant will allow it to increase sales in Russia up to Euro 50 million ($67 million) by 2016, compared to current Euro 20 million ($27 million).