ST. PETERSBURG, December 7 (RIA Novosti-Northwest, Maksim Nichiporenko) - A U.S.-based company, East Group, which specializes in industrial facilities and process engineering, will begin producing new-generation railroad cars at a plant outside St. Petersburg next year.
According to local authorities, the eight-year $480 million project will have the profitability of 5.7%.
The Titran plant outside St. Petersburg will launch production in 2009 and is expected to turn out 10,000 railroad cars annually.
The plant's casting facilities will be upgraded to be able to produce 67,000 metric tons of casting every year.
The new project will bring about 6,000 jobs to the town of Tikhvin, including 2,000 positions for highly qualified specialists and engineers, the local authorities said.
