Russo-British logistics company Megalogix is to take out a $40m loan with European Bank for Reconstruction and Development, the bank reports.

The funds are reportedly to be used to build a $160.4m logistics complex in Novosibirsk region.

Under plans, the company is to build the A class 121,000-square-meter logistics center on a 17.85-hectare site outside Novosibirsk.

Megalogix is a JV set up by British developer Raven Russia and Russian investment company Avalon to carry put logistics projects throughout Russia.