Turkish retailer Ramenka has said it plans to spend up to US$270m over the next three years to extend its operations in Russia.

The company currently has around 28 Ramstore hypermarkets and supermarkets in Russia, 24 of which are in Moscow. Ramenka plans to open eight new stores in Russia by the end of the year, five in Moscow, one in St Petersburg and one in Samara, Ramenka general director Mustafa Saglam told The Moscow Times.

Ramstore is the third-largest supermarket chain in Moscow, with six hypermarkets and 18 supermarkets in the capital city already.