Bosch-Siemens Hausgeraete GmbH is planning to open a 50 million euro plant to produce refrigerators outside of St. Petersburg in June of this year, Richard Bendele, general director of BSH Bytowaya Technika, the Russian subsidiary of Bosch- Siemens, told reporters on Tuesday.
Bosch-Siemens executives are planning to discuss further investment resources in May for the plant outside St. Petersburg, Bendele said. "We have already invested 50 million euros as of today and are expecting further investment for at least this amount,' he said.
The company is considering building a plant to produce either washing machines, dishwashers or ovens, he said.
The plant will be able to produce 280,000 refrigerators a year initially. Production should increase to 500,000 refrigerators a year by January 2009, Bendele said.