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The German Tengelmann Group, which is successfully developing DIY network OBI in the Russian market, plans to open a food discounter under the brand Plus, reports The Kommersant.
Tengelmann Group will be working in the partnership with the Roseurogroup to launch 150 food discount stores, branded “Plus”. The joint venture OOO Plus Development will be building the new network.
The volume of investments in the project is estimated into €500 million. The business turnover is expected to amount € 1 billion by 2020.
The joint venture OOO Plus Development, is reported to be interested in purchasing land plots in the regions of Moscow, Tula, Tver, Ryazan and Nizhniy Novgorod for building stores.
Photo: ©AFP
Sources: http://www.kommersant.ru
Author: Irina Fomina
