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    McDonalds to invest $120 mln in 40 new restaurants in Russia

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    McDonald's, the world's largest fast food chain, intends to invest at least $120 million in opening about 40 restaurants in Russia in 2009, the company's president for Russia and Eastern Europe said on Thursday.

    MOSCOW, February 26 (RIA Novosti) - McDonald's, the world's largest fast food chain, intends to invest at least $120 million in opening about 40 restaurants in Russia in 2009, the company's president for Russia and Eastern Europe said on Thursday.

    Khamzat Khasbulatov said investment required for the construction of one restaurant was $3-4 million.

    In addition, McDonald's plans to modernize existing facilities in Russia in 2009 and also invest in the expansion and improvement of production capacities at restaurants, he said.

    The company intends to expand its presence in Russian cities where it already has restaurants and also gain a foothold in other populated areas, including small locations, Khasbulatov said.

    The executive also said the company had set itself the task of transferring the entire production chain for its Russian division to Russian soil. "Currently, 80% of what we produce [in Russia] is made in Russia. The task is to move the remaining 20% to Russia," he said.

    McDonald's fast food chain in Russia includes over 200 restaurants.

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