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GAZ [RTS: GAZA], a leading Russian automaker, and Brazilian bus manufacturer
GAZ [RTS: GAZA], a leading Russian automaker, and Brazilian bus manufacturer Marcopolo, have invested around $300 million in a joint venture to produce buses in Russia, the venture's CEO said on Thursday.

Yuri Kayo, general director of the Russian Marco Buses, which was set up in 2006 on a parity basis, said the parties would launch the production of Brazilian Real and Andare buses at two production facilities located in the Volga area and in central Russia.

The Pavlovsk facility in the Volga area will produce Real mini-buses and the Golitsino facility in the Moscow Region will turn out Andare buses for international and tourist trips.

The Pavlovsk plant has already turned out 150 Real buses and is expected to reach its designed capacity of 3,000 buses a year in 2010-2011 while the Golitsino facility where production began in the summer of 2007 will reach its projected output of 1,000 buses annually in four to five years, Kayo said.


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