South Korean automaker Hyundai Motor plans to sell its plant in Russia for a token 7,000 roubles ($77.67), a company official said on Tuesday, Paralel.Az reports citing Market Screener.

Hyundai Motor also said in a regulatory filing that it will take a 287 billion won ($219.19 million) loss on selling the plant, which has suspended its operations since March, 2022.

The automaker said in a statement that it is currently making final arrangements with Russia's Art-Finance to agree a deal. ($1 = 90.1300 roubles) ($1 = 1,309.3600 won).