Ikea to start new project in Russia
2010-02-02
Ikea is planning to commence the implementation of a new project in Russia – the construction of a 120,000-140,000 m
2 shopping and recreation centre in Volgograd, where it has already obtained a 40-ha site.
The company had intended to establish its presence in Volgograd in 2003, but the project did not get off the ground because the local utility providers demanded €6m from it for connection to the electric grid, which the company considered too costly. Ikea representatives later announced that the company would cease its activities in Russia, completing only the few projects which were already underway, because of the numerous administrative obstacles it was facing all over the country.
Ikea currently operates 12 Mega
retail centres in Russia.
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