MOSCOW, October 6 (RIA Novosti) - The French...

"Renault confirmed yesterday that it was prepared to invest in the development of AvtoVAZ, including the provision of the most advanced technologies. The volume of investment will be specified following discussion of the plans for AvtoVAZ"s development and a corresponding valuation," Shuvalov said.

Shuvalov said the government has already allocated 25 billion rubles ($830 million) to help the auto giant, known for its Lada brand, repay its current liabilities, and is prepared to grant another 12 billion rubles ($400 million).

According to Shuvalov, Renault confirmed its willingness to provide all necessary data, expertise and personnel to help streamline work at AvtoVAZ.

"The main thing is that Renault has confirmed its strategic interest in the development of AvtoVAZ and believes that the acquisition of 25% plus one share was a strategically correct and justified decision," Shuvalov said.

Russian Prime Minister Vladimir Putin pledged on Monday to save

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