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St Petersburg is becoming a major Russian and world motor industry centre, Mr Putin said. one of the world’s biggest car makers is already working in Leningrad Region and five other car makers are planning to develop business in the region.

The motor industry’s development in Russia and the fact that foreign companies are opening production facilities in the country is the result of the Russian Government’s deliberate policies.

The President noted the importance in this respect of developing Russia’s technological components base. Mr Putin noted in particular that the new plant’s main shareholder is a Russian company, OAO Magnitogorsk Steelworks.