Urals | Retail, FMCG

UMMK greenhouse complex investment 'to top $34m'

19 Jun '08
The Ural Mining and Metallurgical Company (UMMK) said today total investment into its Teplichnoe (Warm) greenhouse complex in Ekaterinburg will top $34m.

The greenhouse, being built in the city's Sadovoe suburb - which, aptly, means Garden - will cover around twelve hectares.

Local authorities backed the project largely due to its promise to stock local retailers, along with federal networks including Metro and France's Auchan, easing the dependency on imports from the south.

Construction kicked off in August and is scheduled for completion by the end of 2009, while the first phase will be complete by August 2008.

Sources at the company said by the end of theyear the first vegetables would already be planted there.
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