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. Last Updated: 07/27/2016

Joint Venture Will Build Warehouses

British investment fund Raven Russia and Russian company Espro have formed a joint warehouse-development venture. The new partners' first project will be the Vostochny logistics park in the Noginsky area of the Moscow region, to be built at a cost of $184 million.

Raven Russia announced the creation of a joint venture with Cyprus-registered Aldama Limited, which was formed by Espro.

Their first project will be a 300,000-square-meter Class A terminal, which will be built on 61.8 hectares in the Noginsky area, 44 kilometers from the Moscow Ring Road on the Moscow-Nizhny Novgorod highway.

Espro had earlier announced plans to use this plot to build an industrial park.

Raven Russia has worked with Espro before, having acquired the Kulon-Youzhny and Kulon-Baltia logistics complexes from Kulon, which is also a part of Espro.

The formation of the joint venture was announced on the London Stock Exchange web site.