McDonald's plans to invest US$120M to build new restaurants in Russia this year; company to also invest US$15M to refurbish existing restaurants in country
January 5, 2012
– McDonald’s plans to invest US$120 million to build new restaurants in Russia this year, as well as invest $15 million to refurbish the existing restaurants in the country, Forbes reported Jan. 5.
The company plans to open 45 new restaurants in Russia this year and 75 by 2017. McDonald’s currently has about 300 restaurants in the country.
The move is part of the company’s recent expansion in Eastern Europe. Last year, McDonald’s opened its first restaurant in Bosnia and Herzegovina, and invested nearly $1 million to open another unit in Romania. Also last year, three new McDonald’s restaurants opened in Latvia and the company plans to invest $26 million to open 35 new restaurants in the Baltic region by 2013.
The primary source of this article is Forbes, New York, New York, on Jan. 5, 2012.