MOSCOW--President Vladimir Putin was slated to attend a groundbreaking ceremony Tuesday for a new Toyota assembly plant just outside of St. Petersburg.
Russian officials say the 4 billion ruble (US$144 million; ?111 million) factory, which will produce about 50,000 Camrys and other models annually, is the largest investment to date in the St. Petersburg region.

The factory is expected to start operations in December 2007.

Toyota is the latest foreign auto maker to start up a production facility in Russia. French automaker Renault SA earlier this year opened a US$250 million (?190 million) assembly plant for the Logan model in Moscow.


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Publication date: 2005-06-14