Saturday, December 18, 2010

Putin decided to grant rescue Russia the largest automotive enterprises

According to the 11th edition of the "Komsomolskaya Pravda" reported that Russia's Prime Minister Vladimir Putin 10, decided to plight of Volga Automobile Group $ 50 billion rubles ($ 1/about 28.8 rubles). Early this spring, he has asked the Government to the country's largest automotive enterprises to provide 250 billion roubles.

According to reports, the latest of this funding will be used for placement is Volga Automobile Group dismissed 1.5 million employees. The Russian Government on the Volga automobile group total amount of financial aid may reach 550 billion rubles, but continue to transfer funds provided, company leaders must be submitted before December 20, long-term investment plan.

As of now, Volga Automobile Group's total debt has more than 620 billion rubles. The Russian Government want to own the shares of enterprises 25% France Reynolds company to participate in the aid, but Renault company only promised to give help on process improvement.

Volga Automobile Group was founded in the Soviet period, the production of LADA brand cars. Currently, the major shareholders is technology company, Russia France Renault automotive company and Russia's "triple dialogue" investment company.

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