Toyota to produce cars in Russia

MOSCOW April 15, 2005; Japan Today reported that the Russian Ministry of Economic Development and Trade said Thursday Toyota Motor Corp has agreed to build an automobile assembly plant on the outskirts of St Petersburg, Russia's second largest city.

A memorandum of understanding will be signed by Toyota, the ministry and the city government of St Petersburg next week, said Svetlana Ganeyeva, head of the ministry's investment department. (Kyodo News)