The first center for light wholesale trading Metro Cash & Carry opened on Komendantsky prospect in St. Petersburg on Monday. Member of the Board of Metro Cash & Carry and Project Director for Eastern Europe and Russia Franz Muller told Rosbalt that the total area of the trade complex was 9.1 thousand square meters. Investment in the project reached Eur 25 million. The period of recoupment is 8-10 years, and a trade turnover at the complex of Eur 70 million is expected annually.
Muller said that the center has 11 thousand name brand grocery items, including 1200 suppliers predominated by Russian companies (80%) and of them St. Petersburg companies make up 30%. There are also 9 thousand name brand non-grocery trade items.
A second Metro Cash & Carry will open on Prospect Kosygina in St. Petersburg in June. Investment in the second store is valued at Eur 20 million. Moreover, a third store is planned to open in the city on the Neva by the end of the year.
There are a total of 437 Metro Cash & Carry trade centers currently operating in 24 countries. Total sales for the company was more than Eur 25 billion in 2002. More than 76% of their sales are international. The first Metro Cash & Carry opened in Russia in the beginning of November 2000 in Moscow. Currently there are three Metro Cash & Carry stores operating in Moscow.