RDIF and partners expand the PLT logistics platform
Moscow, June 20, 2019 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, Mubadala Investment Company and other leading Middle Eastern investment funds announce the expansion of the Professional Logistics Technologies (PLT) platform with the construction of a new multi-temperature distribution centre, measuring more than 45.000 square meters, in PLT Chekhov industrial park.
The distribution centre (DC) will be built in accordance with the specific requirements of the tenant, grocery and convenience goods retail chain Verny, and will feature modern technological solutions for industrial facilities.
The building will include cameras to monitor several different temperature zones and dry storage areas, as well as administrative and technical facilities. Operations in the building will be organized on the principle of "cross-docking" (a continuous flow of goods without the need to place them in long-term storage). Commissioning of the facility is scheduled for the first quarter of 2020.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“This new project with Verny is another step in implementation of our strategy aimed at creating one of the largest logistics infrastructure operators in Russia. We are grateful to the partners with whom we concluded another major transaction in 2018 for their continued confidence and cooperation. We are confident that the new distribution centre in the PLT Chekhov park will enable Verny to optimize its supply chain providing the customers more affordable quality goods for low prices”.
Oleg Vysotsky, CEO of Verny store chain, noted:
“Verny is growing strongly and that requires an increase in our logistics capacity. When choosing a site for a new DC we focused on areas with good transport accessibility, a high level of site preparation, as well as a clear and reliable owner. We are confident that the location of a new DC in PLT Chekhov park and the expansion of our partnership with PLT will be a strong base for the development of our chain in the strategically important southern part of the Moscow region.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund 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. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800.000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru
PLT logistics platform was created by RDIF and other co-investors in 2016 to invest in Russian Class A logistics complexes and meet the demand from Russian and foreign companies for high-quality infrastructure facilities. The company is among the top four logistics parks operators with a total area of 500.000 square metres in operation. Investment strategy envisages an increase in the number of PLT projects across the country, creating a leading player in the Russian logistics services market. The platform is aimed at introducing the best global practices in Russia from the leading logistics operators, development and management companies. Among the company's customers are leading world and Russian brands, including BMW, Auchan, Verny, Karcher, Hilti, HAVI, Dachser, Castorama, 220 Volts, etc. Further information can be found at www.pltrussia.ru
PLT Chekhov Industrial Park, owned by PLT, is located in the Chekhov district of the Moscow region in close proximity to the federal highways M2, A107 and A108. The total area of the park is 90.7 hectares, including more than 77 hectares for further development. Large Russian and international companies are residents of PLT Chekhov including Lenta, Castorama, BAXI, Gard.
Verny store chain is one of the youngest and fastest growing chains in the country. The first Verny supermarkets opened in October 2012 in Moscow and St. Petersburg. By the end of the same year the chain included 35 stores growing to 150 stores in seven regions of the Russian Federation by the end of 2013. Today the company operates more than 740 supermarkets in four key regions: Central, North-West, Ural and Volga as well as distribution centers in the Moscow region, St. Petersburg, Yekaterinburg and Kazan. The chain employes more than 10.000 people. In the second half of 2018, it introduced a loyalty program, and today more than 40% of sales are made using customer cards. The annual growth of retail outlets and the expansion of the coverage area confirm the propriety of the business model. The company focuses on "mutual respect and trust" with customers, the social orientation of stores and original advertising campaigns. The slogan of the stores is “True quality. True prices! ” put to practice in the strict control of the goods on sale and the pricing.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133