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27 Nov, 2007 14:22

German auto giant gets largest ever EBRD loan for Russian expansion

The European Bank for Reconstruction and development is lending Volkswagen its largest ever loan of $US1.12 billion to build its first car plant in Russia.

The car plant in Kaluga region is the third greenfield factory the EBRD has invested in the past six years.

Volkswagen will start assembly-line production at the site in early 2009.

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