MOSCOW, Aug. 25 (UPI) -- French carmaker Peugeot Citroen will spend $255 million building a factory in Russia, MosNews reported Friday.
Peugeot expects production from the plant, the location of which was not immediately disclosed, to begin in 2009.
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The company, which has no existing production capacity in Russia, will use the new factory to make the Citroen C4 and the Peugeot 307, all for the domestic Russian market.