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Russian Prime Minister Vladimir Putin recently endorsed a plan to build a freight-car plant in Tikhvin. The plant, Tikhvin Carriage Works, will be developed by ICT Group.

To be completed in 2010, the $800 million facility will have the capacity to produce 10,000 cars annually, including multi-purpose open-top cars and hopper cars. The plant also will adapt long-base platforms to transport high-capacity containers, according to ICT Group, a finance and development company.

There is "huge demand for freight carriages in Russia because the old carriages are worn out and their amount doesn't meet the needs of Russia's growing economy," said ICT Group Vice President Nikolai Dobrinov in a prepared statement.