Russia to decide on future use of Moscow’s Renault plant this week

Russian officials will decide how to use Renault’s plant in Moscow by the end of this week, the Ministry of Industry and Trade said.

The announcement came after the automaker announced it was suspending operations in the country.

Renault said last week it stopped production at the plant and would assess its options on its majority stake in Avtovaz, Russia’s No. 1 carmaker.

The government’s comments regarding the future of the factory come after the Kremlin suggested it could nationalize the assets of foreign companies that left the country.

“The Ministry of Industry and Trade will discuss the prospects of developing the Renault Russia factory with the Moscow government,” the ministry said.

The factory in Moscow owned by Renault was producing the Renault Duster, Kaptur, Arkana, and Nissan Terrano models.

“The Ministry of Industry and Trade is in constant contact with Avtovaz and Renault Group management,” the ministry added.