The Nizhny Novgorod regional governor's press service said chief executive Willi Liebherr had met Monday with the region's investment policy minister, Dmitry Svatkovsky, and told him the project would be conducted in three stages.
A plant to build construction machinery will be built at the first stage, followed by a plant to assemble construction equipment for the Russian market and then a plant to produce aircraft construction components.
"The investment at the initial stage of construction will total $80 million. By the end of the first year of the plant's operation, there will be 200 production personnel," the governor's press service said. "Work on building a plant to manufacture construction equipment components is scheduled for the first half of 2007."
Liebherr was founded in 1949 by engineer Hans Liebherr as a family business. The company's first product was a mobile tower crane.
Liebherr Group's holding company is Liebherr International AG based in Bulle, Switzerland, whose registered capital is 500 million Swiss francs (about $410 million).
