Megalogix Novosibirsk

completed

_x000C_Megalogix Ltd. (Megalogix) is a company established to develop an integrated network of class A warehouses in up to 20 cities across Russia and major cities of CIS. Megalogix is a 50/50 joint venture of: _x000B_ - Raven Russia Limited (Raven), a sponsor of an existing IFC client in Ukraine, CJSC Logistics Center Kalyinivka, and - Avalon Group (Avalon), one of the leading Russian distributors of fast-moving consumer goods (FMCG). The proposed investment is part of the above mentioned large scale initiative of Megalogix and involves the construction of a class A warehouse facility of approximately 103,000 square meters (m²) in the south of Novosibirsk. Novosibirsk is a frontier region of Russia with income per capita of less than half of national average and suffering from severe shortage of warehousing capacity. The project will be implemented through a 100% subsidiary of Megalogix (Logopark Ob or the borrower) in Russia, incorporated solely for the purpose of the project implementation. The project will address the undersupply of quality warehouse space in Novosibirsk and is part of the Megalogix’s overall strategy to become one of the leading warehousing service providers in Russia.