Tuesday, October 24, 2006

Vishal Retail to invest Rs. 600 million in stores and manufacturing facility

Business Standard reports that at the launch of the company’s second hypermarket in Ludhiana, Surinder Kumar Aggarwal, director of Vishal Retail Ltd, parent company of Vishal Mega Mart, announced that it will be investing Rs. 7 billion to establish 60 hypermarkets and also set up a manufacturing facility in Dehradun. The new store was the company’s fifth opening in the state of Punjab, after Ludhiana, Patiala, Jalandhar and Amritsar. The company will be opening stores in Chandigarh, Mohali and Panchkula where they are in the final stages of selecting locations. Once the company is well established in the northern states, it will focus on south India.

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