IKEA to invest $100m in developing business in Urals

IKEA (Sweden) is ready to invest $100 million in the development of its business if the Urals region of Russia, Head of the IKEA-Russia Group of Companies Lennart Dalgren said during the meeting with International Relations Minister of the Sverdlovsk region of Russia Yury Osintsev. The negotiations between them took place in line with IKEA managers' visit to Yekaterinburg. The company is interested in expanding its storage areas in the regions of Russia, especially the Urals region, the company's representative said.

The company is currently considering its participation in the transport and logistics project in the Sverdlovsk region as one of the most perspective. Another perspective project of the company is the creation of the retail centers similar to the ones already existing in Moscow and St. Petersburg. The International Relations Minister of the Sverdlovsk region pointed out at the meeting that the government of the Sverdlovsk region supported the company's plans related to the expansion of IKEA's presence in the Middle Urals of Russia and was ready to contribute to that. The company's representative pointed out at the meeting that the total volume of investments that IKEA was planning to make in Russia over the next five years was estimated at more than $500 million.

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