The Nizhny Novgorod regional administration and German company Metro Cash & Carry will sign an agreement on the construction of a Metro Cash & Carry trading center in Nizhny Novgorod, acting governor Yury Sentyurin announced after a meeting with representatives of Metro Cash & Carry. This agreement is expected to be signed within a week.
The construction of the Metro Cash & Carry center is expected to begin a year later, in September 2003, and it will be opened in April 2004. The volume of investments in this trading center was set at about EUR 15-17m. The annual turnover of the center, which will provide new jobs for 450-500 specialists, is forecasted to reach EUR 80m.
According to the acting governor of the Nizhny Novgorod region, the new Metro Cash & Carry trading center will become the third in Russia. The first two Metro Cash & Carry centers are operating successfully in Moscow now.
Europe which is panic-stricken over the consequences of rising energy and food prices could strike a treacherous blow to Ukraine this winter, writes Simon Tisdall for The Guardian.