Metro coming to Mumbai

Germany's Metro Cash & Carry will be opening a store in Mumbai. This will be its fifth outlet in the country, after 2 outlets in Bangalore and one each in Kolkata and Hyderabad. The company has reportedly spent Rs 84.5 crore on purchasing a 10 lakh sq ft space in the upcoming Magnet Mall in Bhandup, an eastern suburb of Mumbai. The new store in Mumbai is likely to be ready for operations by November 2007. The company expects to get close to 4,000 footfalls and sales of Rs 1.5 crore every day.