South Korean confectionery producer Orion Corporation is to construct a plant in the Russian city of Tver estimated at 2.7 billion rubles (€58.4m), according to local reports.

The new plant will create jobs for around 1,300 people. Orion has a history of working with the authorities in Tver and a subsidiary opened a confectionery branch in 2006 at an estimated cost of $40 million (€27.4m).