MOSCOW (Reuters) -- Renault SA on Monday launched new facilities to double capacity at its Moscow plant, and said it would work with partner AvtoVAZ to become the Russian market's strongest player.
"With our partners, AvtoVAZ and Nissan, the three of us will become stronger with shared platforms and capacity. Our aim is to be among the leaders in the Russian market," Renault CEO Carlos Ghosn said.
Ghosn told the launch ceremony that the firm had invested 150 million euros ($203.8 million) to double the plant's capacity to 160,000 cars a year.
The new plant, which has been producing budget Logan models since 2004, would add the Sandero model after expansion. From 2011, it will also produce the Duster SUV.
Renault owns 25 percent of Russia's largest car producer, AvtoVAZ, based in Togliatti on the Volga river. Indebted AvtoVAZ is due to announce a restructuring plan later this month.
The Logan was Russia's top-selling foreign car last year with 53,869 cars sold and ranked fifth overall. It was only behind four Lada models produced by AvtoVAZ -- the Priora, Samara, 2105/2107 and Kalina.