Furshet to Invest USD 100 mln in 2008

Furshet (HZ21 GR: N/R), a top-five Ukrainian retailer, announced that it plans to invest USD 100 mln in chain expansion throughout Ukraine and Moldova. The company’s CEO Igor Balenko said that Furshet will construct half of its facilities and rent the other half. As confirmation of the company’s agenda, yesterday Interfax reported that Furshet attracted a USD 90 mln loan from the European Bank for Reconstruction and Development. The eight-year loan has a period of grace of two years. The company’s CEO Igor Balenko noted that the attracted funds will allow more aggressive network expansion.