It was reported that German-based Schott has signed an agreement with the government of Russia's Nizhny Novgorod Region on 10 July 2008 to build a RUR 2.2BN plant to make glass packaging for the domestic pharmaceutical industry, the region's Governor Valery Shantsev told reporters. The plant is expected to be located in the Borsky district. The project will be implemented in two stages: the first, costing RUR 750M is expected to start in summer 2008 for completion in December 2009; the second stage is expected to be implemented from 2010 through the end of 2011. In the first stage, the plant is expected to produce 350M ampoules and 250M flacons/pa. To implement the project, Schott registered a regional subsidiary, Schott Pharmaceutical Packaging in December 2007 and bought a 30-hectare plot.
