Philip Morris urgently allocates $42m to its factory in Russia

Philip Morris urgently allocates $42m to its factory in Russia
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Philip Morris International, the world’s leading tobacco company, intends to invest 2,49 billion rubles ($42 million) in modernization of its factory in the Leningrad region, Russia.

As Construction.RU was told on Tuesday by the regional administration’s press office, this project is planned to be implemented in the period of 2017-2018 and will become one of the most large-scale projects in the region for years. These investments will provide an opportunity for the development of a hi-tech manufacture.

Apart from that, Russia will become the world’s second country after Italy that has the manufacture of tobacco sticks for electronic cigarettes. We should remind you that a high-tech enterprise of full cycle of Philip Morris Izhora is the largest facility of Philip Morris Corporation in the world by capacity. More than 1,300 people are employed there. Up to date, the volume of investment of PMI in Russia has reached about $2 billion dollars.