German producer of plastic packaging Jokey Plastik plans to invest up to €20m in building a plant in the Russian Ulyanovsk region.
The agreement on the building project was signed with the government and the regional development agency on 31 July 2012, which will implicate an investment volume of approximately €15-20 mn.
The commissioning date of the plant was not disclosed.
Jokey Holding CEO Herbert Kemmerich said the Russian market offers an ideal location to supply companies throughout Russia.
"We are very happy, that the building project could be agreed upon within a very short time,"said Kemmerich.
The new plant is said to ensure the security of supply for the growing market with its customer potential and increasing purchasing power, said the company.
In addition to its core activities, Jokey also specializes in making structural components for automotive and computer equipment, furniture for bathrooms and specializes in plastic packaging.