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Magnit to build forwarding base in Hungary

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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.

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