Magnit to build forwarding base in Hungary

Sights

Russian retail chain Magnit is planning to build a distribution base near Záhony in Eastern Hungary, city mayor Imre Háda told Hungarian news agency MTI. Construction of the base could start as early as this summer.

The base would allow Magnit to purchase food products in the west and distribute them to the chain’s 8,000 stores in Russia. The base would operate with a fleet of 1,000 transport vehicles and would employ 1,500, according Péter Szíjjártó, the state secretary for foreign affairs and external economic relations in the Prime Minister’s Office, who released information about the plan in December.

Szíjjártó touted the distribution base as the successful result of the government’s concerted policy to open Hungarian markets to the East.

Magnit currently transports goods from western Europe via Belarus. MTI reported the Magnit CEO Sergey Galitsky was giving the project priority, putting plans for the construction near Záhony ahead of his firms plans to purchase a banana plantation in Ecuador.

ADVERTISEMENT

EBRD Sees Hungary GDP Growth Slowing to 1.5% in 2023 Analysis

EBRD Sees Hungary GDP Growth Slowing to 1.5% in 2023

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.