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Business news, 06.03.2001 16:41

Bouygues invests into construction in St. Petersburg.

Bouygues, one of Europe's largest conglomerates, has expressed an interest in creating a number of small hotels and supermarkets in St. Petersburg. Investments into this project will amount to several dozen million dollars. President of the company's Moscow branch Pierre Bouache and Commercial Manager Jean-Francois Legraine said so at a meeting with St. Petersburg's Chief Architect Oleg Kharchenko. The two sides have agreed that the Committee on City Planning and Architecture will soon prepare seven or eight scenarios of placing trade complexes with the overall area of 50,000 square metres and with parking spaces for 2,000 cars in various city areas. According to Mr. Legraine, a large territory with good transportation accessibility is needed for this project. Bouygues is considering the possibility of investing money into the Russian economy to build 10 to 15 supermarkets a year. St. Petersburg is the first Russian city in the list of possible candidates for investments. The company has begun building a trade centre near Kursk railroad station in Moscow in cooperation with "Ingeokom" company last year.

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(c) 2000