Opel plans to invest in Russia of 600 million euros

Germanic concern Opel cars in Russia, plans to invest 600 million euros, including 170 million euros - in the near future, said co-chairman Siegfried Wolf, Magna jointly with the head of Sberbank (RTS: SBER) Herman Gref, the press conference in Frankfurt.

"It does not help (Russia's car industry), and Opel in the investment market, with great potential. They are needed for our business plan" - he said.

This, in particular, investment in GM plant near St. Petersburg.

In addition, Z. Wolf reported that Magna and Savings Bank immediately invested in Opel 500 million euros - 450 million euros and another 50 million euros - as an interest-free loan.

Chapter Board Magna suggested that running the consortium Opel come on profitability by 2015, for which Magna and Savings Bank will invest in the development of the company 1 billion euros annually.

As reported, last week the Board of Directors of General Motors, owns Opel, has decided to sell 55% stake germanskogo automaker consortium Magna and Sberbank. Initially, GM was against the deal with Russo-Canadian consortium and supported his rival - RHJ. The deal with Magna and Sberbank actively lobbied the Government of Germany, supported it and the unions of the country.

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