LSR to go through with ten mergers in Saint Petersburg, Moscow, and the Urals in 2008, Igor Levit says

‘We are planning to invest a total of $1bn in business development this year. Some $650m will be directed to industrial projects, including the construction of a number of plants in Leningrad Region. Then, $350m will be spent on the acquisition of some builders with their own stock or land allotments in the Russian regions,’ LSR Group’s General Director Igor Levit said to RBC Daily.

The Group has already announced that it was going to set up a special entity meant for managing LSR’s Urals-based assets with headquarters in Yekaterinburg as soon as the summer of 2008.

LSR Group owns an 87% share of Betfor, a concrete goods plant that was bought from NOVA-GROUP under a certain agreement.

‘I believe we can go though with up to ten mergers on Saint Petersburg, Moscow, the Urals, and Ukraine’s markets this year. We see these regions as our top developmental priorities at the moment,’ Igor Levit added.

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