Russia Deputy PM: Renault Ready To Invest In AvtoVAZ Devt
October 06 2009 - 5:41AM
Dow Jones News
French auto giant Renault SA (RNO.RS) is ready to invest in the
development of troubled Russian automaker AvtoVAZ (AVAZ.RS),
Russia's Deputy Prime Minister Igor Shuvalov said Tuesday.
"(Renault) is prepared to invest in the development of AvtoVAZ,"
Shuvalov said, after a meeting with Renault and Russian auto
industry executives.
The exact amount will be determined after AvtoVAZ has prepared
its investment plan, said Shuvalov, who heads a government
commission on the restructuring of the country's auto industry.
Shuvalov added that Renault sees its investment in AvtoVAZ as
strategic and he said the French company may provide access to new
technologies.
Company Web site: www.government.ru
-By Will Bland and Jacob Gronholt-Pedersen, Dow Jones Newswires;
+7 495 937 8445; jacob.pedersen@dowjones.com