August 29, 2012 / 7:18 AM / 5 years ago

GM to invest $1 billion in Russian operations within 5 years

MOSCOW (Reuters) - General Motors (GM.N) plans to invest $1 billion over the next five years to expand cars and components production in Russia, one of the fastest-growing car markets in the world, its head of international operations Tim Lee said.

A worker walks behind a logo of General Motors after the announcement of the closing of the Opel assembly plant in Antwerp January 21, 2010. REUTERS/Francois Lenoir

The company, which produces cars at three sites across Russia in St. Petersburg, Togliatti and Kaliningrad, will invest part of the money to increase capacity, Lee said on Tuesday evening ahead of an auto show in Moscow. (Reporting by Gleb Stolyarov; Writing by Katya Golubkova; Editing by Douglas Busvine)

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