The Swedish furniture manufacturer IKEA will launch its biggest Russia-based furniture factory worth 3.9 billion rubles ($60 million) on September 7, General Director at IKEA Industry Novgorod Alexander Kozlov said.
“The plan is to launch the factory on September 7. This is going to be the biggest investment in IKEA’s new production site worth a total of 3.9 billion rubles, or more than 50 million euro”, he said, adding that the plant will produce 7 million furniture items per year by 2018 when it reaches its full capacity.
The construction of the plant started in 2014. IKEA has been present in the Novgorod Region since 2013. (TASS/Business World Magazine)
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