Fuyao Group will spend US$200 million to build an automobile glass production factory with annual capacity of three million units in Kaluzhskaya, Krasnodar Krai in western Russia.
The factory’s first phase is scheduled to be operational on December 1 2012 and will reach designed capacity by February the year after.
The factory will initially process glass produced in China and will produce safety glass in ensuing stage.
The factory will benefit from local tax benefits. Shares of Fuyao Glass Industry Group (600660) shed 0.41 percent to close at 9.75 yuan today