Stavropol Territory, Chechnya and Karachay-Cherkessia have ratified an agreement to form the Cherkessk-Argun-Stavropol Special Economic Zone. Governor of the Stavropol Territory Vladimir Vladimirov expressed hope that the economic zone would be formed in about half a year, RIA Novosti reports.
The Stavropol Territory plans to form its part of the car-manufacturing zone in the next two years, reaching an output of 200,000 Chinese cars a year. The first production line will have an output of 100,000 cars a year, providing about 2,000 people with jobs.
Simultaneously, production of car parts will be under development. Localization of manufacturing will have reached 50% by 2022.