Vsevolozhsk, Russia -- Nokian Tyres plc has signed a contract with YIT Construction Ltd. concerning the expansion of the Vsevolozhsk tyre plant.
The contract agreement covers construction of a mixing department and warehouse. The contract, worth approximately EUR 21.5 million, was signed in Vsevolozhsk on 23 September. Construction work will begin immediately and is scheduled for completion at the end of July 2006.
Ina statement, Nokian said, "The contract agreement for plant expansion comprises two buildings: the initial phases of a mixing department and a warehouse building. The mixing department is about 20 255 m2 in size and the warehouse building about 16 600 m2. The contract also covers, for example, completion of regional works and infrastructure on the site.
Nokian officially opened the plant yesterday, but has been producing tyres since June 2005.