Magnit will create its own greenhouse complex in Krasnodar

The food retailer Magnit plans to implement a project to create a greenhouse complex in the Krasnodar region. It will grow tomatoes and cucumbers for supply to stores of the company.

The future greenhouse complex will take an area of 27 hectares with a capacity of 23 thousand tons of vegetables per year. Its cost is estimated at 6.4 billion rubles (approximately $86.5 million).

After the implementation of this project, Magnit will be able to increase its own production of cucumbers by 20% and tomatoes by 70%. Earlier Magnit signed an Investment Protection and Promotion Agreement.