Economy
In recent years Kaluga has become one of the centers of the Russian automotive industry, with a number of foreign companies opening assembly plants in the area.
On November 28, 2007, Volkswagen Group opened a new assembly plant in Kaluga, with further expansion plans planned to be completed by, or during, 2009. The investment has reached more than 500 million Euro. The plant currently assembles the Volkswagen Passat and Škoda Octavia. Planned annual capacity from 2009: up to 150,000 vehicles.
On October 15, 2007, the Volvo Group broke ground on a new truck assembly plant, that was inaugurated on January 19, 2009. The plant has an yearly capacity of 10,000 Volvo and 5,000 Renault trucks.
On December 12, 2007, PSA Peugeot Citroën announced its decision to build a new assembly plant in Kaluga. By March 2010 the plant was operational, building Peugeot 308s for the Russian market and would also produce Citroën and Mitsubishi models.
Read more about this topic: Kaluga
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)