Foxconn and HP recently announced that they will invest approximately US$50 million in constructing a PC and LCD monitor assembly plant in St. Petersburg, Russia, according to an AFX News report. In the initial phase, Foxconn is expected to assemble PCs for HP at the 60,000-square-meter facility, scheduled to kick off mass production 12 months later. As yet, Foxconn has not decided on the location for this assembly plant, according to the same report.