RUSSIA – IFC
December 1st, 2002
BY KEITH NUTHALLA TURKISH-OWNED chain of Russian shopping malls and supermarkets is to receive a US$70 million loan from the World Bank's International Finance Corporation to almost double the company's retail space in the country. Ramenka already operates four shopping malls and 10 supermarkets in the Moscow area under the name Ramstore. Said Ramenka's General Director Mustafa Saglam: "Our new expansion is part of Ramenka's strategy to respond to the rapid growth of Moscow's retail market and to strengthen further its position as the sector leader." Although the ...
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