19:34 GMT +319 July 2019
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    Sea and river vessels on the River Don, Rostov-on-Don. (File)

    French FM Logistic Company Starts Building Logistics Hub in Russian South

    © Sputnik / Aleksandr Pogotov
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    ROSTOV-ON-DON (Russia) (Sputnik) - The French FM Logistic company on Tuesday started building a logistics hub with a cost of about 2.5 billion rubles (some $40 million) near the airport of Russia's southern Rostov-on-Don, a Sputnik correspondent reported.

    Vasily Golubev, the governor of the Rostov Region, and Christophe Menivard, the general director of FM Logistic Russia, laid the foundation stone of the future warehouse compound. The facility is expected to be built by the end of 2019 in the Grushevskaya settlement.

    On Friday, an agreement on the construction of the facility was signed at the St. Petersburg International Economic Forum (SPIEF).

    FM Logistic is a French group of companies focusing on warehousing, transport and supply chain management. The company, which has a network of warehousing facilities in 14 countries, started its activities in Russia in 1994.

    The SPIEF, held annually, is a major global platform for communication between business representatives and for the discussion of crucial economic issues. 550 agreements worth more than 2.36 trillion rubles ($38 billion) have been signed during the last forum in May 2018.

    hub, Russia, Rostov-on-Don
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