Hungarian developer Trigranit is planning to invest some EUR 5 bn to buy companies and develop real estate in Russia. The Budapest-based company bought a medium-sized Russian firm last week and aims to acquire as many as nine more, chairman Sandor Demjan said in an interview to Bloomberg on Thursday. Its first project in the country will be a 200,000 m[sup]2[/sup] development in the centre of Krasnodar, a city on the Black Sea. The value of the investment is estimated at $1bn (EUR 750 mln).
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