30 Sep 2019 16:37

Magnit planning to launch new greenhouse complex in Krasnodar Region in Nov

KRASNODAR. Sept 30 (Interfax) - Magnit is planning to launch a new greenhouse complex in the Krasnodar Region in November, the retailer's press service told reporters on Monday.

"In November, we are planning to launch a greenhouse complex in Tikhoretsk. Its area will total 26 hectares," the press service said, without disclosing the capacity of the complex or volume of investment.

Earlier reports, citing a source in the regional administration, put investment at 12.6 billion rubles, with construction ongoing since 2017.

The new greenhouses will be part of Green Line Greenhouse Complex LLC, which produced grows vegetables in the region's Dinsky District. Cucumbers and tomatoes for Magnit will be grown here.

Green Line currently produces cucumbers, tomatoes, leaf vegetables, and button mushrooms. As such, Magnit is able to exercise quality control "from farm to shelf," shipping vegetables to the retailer's stores all year round. The complex has an area of around 85 hectares.

Products under the "Village Market" brand are sold at Magnit locations in more than 50 Russian regions.

Magnit is Russia's biggest retailer by number of stores. In 2013-2016, it led the market in revenue, but X5 Retail surpassed it at the end of 2016. As of the end of June, the chain had 19,884 stores, including 14,231 proximity stores.