RDIF, Mubadala and PNK group support the development of the Auchan retail chain in the regions of Russia
Press release, 23.05.2018
St Petersburg, 23 May 2018 - The Russian Direct Investment Fund (RDIF, the sovereign fund of the Russian Federation), together with the Mubadala Investment Company and other leading Middle Eastern funds, announce further growth in the logistics infrastructure investment platform Professional Logistics Technologies (PLT). The platform has invested in the construction of a high-tech distribution center in PNK Park Kosulino (Yekaterinburg) for AUCHAN Retail Russia, part of the French-based retail chain Auchan.
A multi-temperature distribution center covering 30,000 square meters is being built by the Russian industrial real estate developer PNK Group under the built-to-suit model. Auchan Retail Russia acts as a long-term tenant of the facility. In addition to several zones with different temperature environments, the distribution center will facilitate cross-docking operations.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The PLT logistics platform, created by RDIF, is successfully developing its operations. We are pleased that the new logistics center will help AUCHAN to implement its regional development program and increase the availability of quality products for the population. On the eve of a French delegation to SPIEF-2018, led by President Macron, it will also significantly contribute to the further strengthening of Russian-French business cooperation.”
Francois Remy, CEO of Auchan Retail Russia, said:
“We plan to launch one of the most modern warehouses in Russia together with our partners. A number of new technological solutions will be introduced in the warehouse: it will have more unloading gates, fewer supporting columns, a new cooling system. All this help to will improve the quality control of goods and offer our customers only the freshest products. The warehouse will include several zones: for dry foods, for milk and sausage, fruits and vegetables, as well as meat and beverages. Each month about 1000 trucks will deliver goods from the warehouse to Auchan stores in Yekaterinburg, Perm, Magnitogorsk, Chelyabinsk and Tyumen.”
Yuri Menukhov, director of the PNK Group, said:
"We continue to have successful cooperation with RDIF’s logistics platform PLT. This investment in a distribution center for Auchan Retail Russia is notable for the fact that the funds were provided at even earlier stage of development of the project. Our cooperation with RDIF has been going on for many years, and we see the fund as a permanent and reliable partner."
Russian Direct Investment Fund (RDIF) is a Sovereign Fund of the Russian Federation established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
PLT was set up by RDIF, Mubadala and other co-investors in 2016 to expand and enhance Russia’s grade A logistics infrastructure and to meet demand from Russian and international companies for high quality well managed logistics infrastructure. Investors are planning to grow the portfolio of PLT’s modern logistics facilities to become the leading player in logistics facilities in Russia with a network of facilities throughout the country. PLT is committed to implementing some of the best practices of the world’s leading logistics operators and development companies.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Elena Garside
Tel: +44 (0) 20 7796 4133