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IKEA will launch biggest project in Russia worth $60 mln in September

July 11, 2016, 21:41 UTC+3 VELIKY NOVGOROD
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VELIKY NOVGOROD, July 11. /TASS/. The Swedish furniture manufacturer IKEA will launch its biggest Russia-based furniture factory worth 3.9 bln rubles ($60 mln) on September 7, General Director at IKEA Industry Novgorod Alexander Kozlov told TASS Monday.

"The plan is to launch the factory on September 7. This is going to be the biggest investment in IKEA’s new production site worth a total of 3.9 bln rubles, or more than 50 mln euro," he said, adding that the plant will produce 7 mln furniture items per year by 2018 when it reaches its full capacity.

The construction of the plant started in 2014. IKEA has been present in the Novgorod Region since 2013.

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