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Russia’s largest retailer plans to build logistic hub for $34 million

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Russia’s largest retailer plans to build logistic hub for $34 million

Magnit, one of Russia’s largest retailers, plans to build a large trade and logistics hub in Novosibirsk for the purpose of operation in several regions of Siberia, the Governor of the Novosibirsk region, Vladimir Gorodetsky, told reporters on Wednesday.

The project is estimated at about 2 billion rubles ($34 million). The head of the region explained that, on Tuesday, he had carried out talks with representatives of the retailer at the Russian investment forum in Sochi.

“Magnit is interested in construction of its trade and logistics center in the Novosibirsk region. We welcome this. There is no obstacle for this. The hub will be engaged in distribution of commodities, with the participation of our producers, up to 350 km from Novosibirsk,” – Gorodetsky said.

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