The Ministry of Industry and Trade announced the transfer of the Toyota plant to NAMI

Japanese concern plant Toyota in St. Petersburg passed to the state in the person of FSUE NAMI subordinate to the Ministry of Industry and Trade. About it informs TASS with reference to the press service of the department.

“The agreement implies the complete transfer of ownership of the factory building, equipment and land,” the press service explained.

The department did not disclose other details of the deal. The press service added that the Ministry of Industry and Trade is considering options for the earliest possible resumption of production at the plant.

In mid-March, the head of the Ministry of Industry and Trade Denis Manturov declaredthat the department is discussing the issue of transferring Russian assets to the Japanese automaker Toyota FSUE NAMI. At the same time, the department denied such plans earlier.

In December 2022, the Ministry of Industry and Trade informedthat the enterprise has passed the conservation procedure. Then, together with the government of St. Petersburg, the department worked out possible scenarios for the development of this site.

Toyota suspended the work of the plant in St. Petersburg on March 4, 2022 against the backdrop of the start of a Russian special operation in Ukraine. This decision was made due to violations in the supply chain of parts. At the end of September, the Ministry of Industry and Trade announced that the company decided to completely close the enterprise.

The information was confirmed by Toyota. The company noted that after six months of inactivity, they see no prospects for resuming the work of the plant. The Russian business will focus on supporting the dealer network, which will continue to serve Russian customers of Toyota and Lexus, the automaker added.