Canada's Magna, one of the largest car utilities producers in the world, will open a car utility plant in St. Petersburg in fall 2010, the city government said on Monday.
The decision was made after a meeting between St. Petersburg Governor Valentina Matvienko and Magna President Siegfried Wolf, the government said in a statement.
Three of Magna's eight plants are located in the northwest of Russia.
The new plant will provide 300 jobs, Wolf said, adding that the construction work and equipment is ready.
The plant will produce different auto parts for cars and car plants based in the region.
RIA Novosti
