9 Sep '08
French retail giant Carrefour has announced it is to sign an agreement of cooperation with regional authorities in Krasnodar over a deal to invest $100m building supermarkets in the region.
Under the plan, the the firm would build the supermarkets over a five-year period.
A spokesman from the regional authorities told Marchmont the two parties were set to put pen to paper at the Sochi Investment Forum to be held on 18-19 September.
The spokesman added the terms were still to be discussed and would be this week.