The Korean company-manufacturer of auto parts “Sungwoo Hitech RUS” acquired the site of the former “Ford Sollers” plant in the Vsevolozhsk region.
The project was considered and approved today at a meeting of the Investment Council of the Leningrad Region.
The investment project involves the production of components for Hyundai and Kia vehicles. The volume of investments will amount to 6.8 billion rubles, this amount includes the purchase of the site, its reconstruction and the purchase of equipment. The enterprise will create 520 new jobs. According to the General Director of “Sungwoo Hitech RUS” LLC, Mr. Hon Kwon Pak, the launch of production in Vsevolozhsk is planned in 2023, then the company will expand the production site to install a press line.
“I am grateful to you that you have chosen the Leningrad Region, the site of the former “Ford” plant, as a partner for the implementation of your production. I hope for our joint cooperation, we are ready to support you as a major investor and offer you a package of tax benefits. I hope that the project will be implemented and that it will be profitable for you economically and for us – from the perspective of social infrastructure . Thank you so much, ”said the Governor of the Leningrad Region Alexander Drozdenko.
From the moment of site selection, the investment project has been supported by the Agency for Economic Development of the Leningrad Region.
Reference
“Sungwoo Hitech RUS” LLC is a Korean manufacturer of auto parts. Founded in 1977, the head office is located in South Korea (Busan). Manufactured products - load-bearing elements of a body, doors, bumpers. The main customers of the company are Hyundai, Kia, Renault Samsung Motors, GM Korea Company.
