The FINANCIAL -- McDonald's plans to invest around $135 million in expanding and upgrading operations in Russia and open 45 more outlets in the country this year, the corporation's executive vice-president said on February 1, according to RIA Novosti.

Jim Skinner, who is also chief operations officer, said Russia was a priority area for investment this year as part of its $1.2 billion development strategy for Europe, where the company currently has some 6,600 outlets and is to open another 250 this year.

He added that between 40 and 45 new fast food outlets would be opened in Russia each year through 2012.

McDonald's currently operates 245 outlets in Russia and has an estimated 70% share of Russia's fast food service restaurant market.

McDonald's opened its first restaurant in the Soviet Union on January 31, 1990, drawing a crowd of some 5,000 customers on its first day. The restaurant chain currently serves a total of around 600,000 people in Russia daily.

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