UNIAN, Kyiv, Ukraine, Tuesday, August 19, 2003

Kyiv. August 19. UNIAN. The first "Metro" supermarket opens in the capital of Ukraine today and a protocol about an agreement to build a second supermarket has been endorsed.

According to an UNIAN correspondent, Kyiv city chairman Oleksandr Omelchenko, president of "Kyivmiskbud" holding company Volodymyr Polyachenko, director of "Metro Group" Hans-Joahim Kerber and representatives of "Metro AG" were present at a procedure of endorsement of a corresponding protocol between the Kyiv Administration and "Metro AG" German company, which took place in the city Mayor's office.

The Kyiv city mayor pointed out at the meeting that Kyiv has all legal basis for the investments. He pointed out that the supermarket was built during a very short period. He underscored that it is planned to build at least three similar trade centers in Kyiv.

H. Kerber in his turn has expressed his gratitude to the city authorities for a good collaboration. He reported that the opening of the first "Metro" hypermarket at "Teremky" block in Kyiv in the district of Okruzhna Street gives a stimulus for building and opening of the next hypermarkets.

Kerber reported that the leadership of the company now collaborates with 800 suppliers of products; over 20 thousand items will be carried by the supermarket. 550 highly skilled Ukrainian employees will work in the shop. On the whole about EUR 15 million was spent for the building of the center.

German retailer Metro has said it has opened its first Metro Cash and Carry wholesale store in Kiev, the Ukrainian capital.

Metro now has operations in 27 countries, and its Metro Cash and Carry wholesale division is present in 25 countries, reported Dow Jones Business News.

"The internationalisation of the Metro Group is progressing swiftly. We are the first major international trading company which is operating in Ukraine," Hans-Joachim Korber, Metro's chairman and chief executive officer, was quoted by Dow Jones News as saying. "With 48.5 million inhabitants and a continuously rising purchasing power, Ukraine holds an enormous market potential for Metro Group."

The company has invested Euro15m (US$16.6m) capital in its first Ukrainian cash and carry, and plans a network of seven stores in the medium term. Metro said that it would open its first cash and carry store in India in October 2003.