Danish company Talex Holding ApS is planning to invest $250 million in setting up a supermarket chain in Russia in 2007-2012, a source at Fest Line, a Talex subsidiary, told Interfax.

Talex is planning to build supermarkets that will specialize in selling fish products in St. Petersburg, Moscow and other Russian cities.

Construction on the first six supermarkets in St. Petersburg is scheduled to start in January 2007 and the company is planning to open 12-15 supermarkets in the city by the end of the year.

Talex will open five stores in Moscow in 2007. Each supermarket will have a floor space of 150,000-300,000 square meters and will have a range of 1,500 products.

Some of the investment will be used to build a distribution center in St. Petersburg in 2007-2008.

News source: www.interfax.ru
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