French electrical company Schneider Electric took a decision to temporarily freeze the construction of a plant for the production of transformers in the Russia city of Samara.
As a Deputy Executive Director of Schneider Electric Emmanuel Babeau said in an interview with Les Echos, the Russian market is not ready yet.
The top manager has also called rumors the information about the freezing of the project due to a conflict with the local authorities.
We should remind you that in May 2015, the company has officially started the construction of a new plant in the territory of CJSC Elektoshchit state corporation in Samara.
The project is expected to attract investment amounting to more than 1 billion rubles.