OREANDA-NEWS. November 26, 2012. The business plan for LLC “JV Systems” as a part of CJSC “GM-AVTOVAZ” was approved by the expert council for industry and manufacturing special economic zones at the Ministry of the Economic Development of Russian Federation, reported the press-centre of GM-AVTOVAZ.

The company will build on the territory of the Special Economic Zone “Togliatti” a JV-owned Press and Body Shop as well as engineering and logistics support facilities provided for production of Chevrolet NIVA Next Generation.

The total investment volume for the "JV Systems" project is planned at roughly 6.2 billion rubles. The new company will provide more than 1,000 new jobs for the area. Next spring, the Company will begin with construction of facilities on the territory of the Special Economic Zone, with operations slated to begin in Q4 of 2015.

Jeffrey Glover, GM-AVTOVAZ Managing Director:
"The Special Economic Zone ‘Togliatti’ provides GM-AVTOVAZ with an opportunity to combine many of its operations in one location at the same time that it is expanding to serve the Russian and export markets with a new, more competitive generation Chevrolet NIVA. With the SEZ’s extremely attractive incentive package, it also helps create a solid economic foundation for the further development of our Company. We made a decision to invest in the Special Economic Zone not only because of its proximity to our current operations in Togliatti (which allows us to save logistics costs), but also because the cost base of Togliatti is extremely competitive versus other locations and because the regional workforce is so talented. We have been proud to be a part of Togliatti since the joint venture was founded in 2001, and plan to continue developing within the region going forward."