"It will be the first Russian-Japanese joint venture in the motor industry," the company said in a press release.
Severstal-Avto and Isuzu signed a protocol to establish a JV in February 2007. The JV will make 25,000 Isuzu trucks a year.
The companies said earlier they intended to produce medium-size Isuzu NQR 71 trucks, with a load capacity of about five metric tons, and heavy-duty Isuzu CXZ 51 trucks, with a load capacity of about 20 metric tons.
A number of foreign companies, including car giants such as America's Ford Motor Company, Germany's Volkswagen and Japan's Toyota, have either opened or are planning to open plants in Russia in the future.
Last September Japan's Nissan put pen to paper to open a plant near Russia's second-largest city, St. Petersburg.
