MERKO EHITUS

ANNOUNCEMENT

 

MERKO AND SRV WILL BUILD KESKO HYPERMARKET IN RIGA

 

On 04.09.2000 a joint venture composed of SIA Merks (member of 

Merko group) and SIA Terbe Lat (member of SRV group) signed an 

agreement for construction of Kesko hypermarket in a trade center 

to be built in Riga, Lielirbe area. In the first stage Kesko plans 

to open a 6,000 m2 hypermarket in summer 2001. In the second stage 

Kesko will expand the premises by ca 4,000 m2 within the following 

three years. This hypermarket will be the first of four Kesko 

hypermarkets to be built in Riga. 

 

The Lielirbe Street trade center will contain approximately 25,000 

m2 of shopping premises. In addition to building Kesko hypermarket, 

SIA Merks also develops and builds the remaining 15,000 m2 of trade 

premises in the center. Total evaluated value of the investments 

exceeds EEK 160 million. The trade center will be opened for 

clients in summer 2001.

 

Additional information: 

Tiit Roben, project director, AS Merko Ehitus, tel. +372 61 10 720

Ivars Geidan, CEO, SIA Merks, tel. +371 70 27 043

 

 

Ülo Metsaots

CFO

+372 6105 110