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Walmart bets big on Telangana
Global retail giant Walmart is going ahead with massive expansion plans in Telangana with an investment of about Rs 700 crore. The US major, which currently operates a single wholesale store under ‘Best Price’ brand on the city outskirts at Rajendranagar, gearing up to open seven more in the newly-created State and four of them will come up in the city.
Plans to open seven stores with around 700 cr; Karimnagar, Warangal on the cards
Hyderabad: Global retail giant Walmart is going ahead with massive expansion plans in Telangana with an investment of about Rs 700 crore. The US major, which currently operates a single wholesale store under ‘Best Price’ brand on the city outskirts at Rajendranagar, gearing up to open seven more in the newly-created State and four of them will come up in the city.
The remaining three stores will be put up in towns like Karimnagar, marking its foray into Tier-2 cities in Telangana. “Walmart is in the processing of setting up seven stores in Telangana, including four in Hyderabad. We are coordinating with the retail major which is looking to establish these stores fast,” E V Narasimha Reddy, Vice-Chairman and Managing Director, Telangana State Industrial Infrastructure Corporation (TSIIC), told The Hans India.
“Apart from Hyderabad, Walmart will also set up the outlets in Karimnagar, Warangal and Nizamabad,” he added. The US company is now busy with the task of identifying suitable land parcels – both private and government - for its stores.
It has zeroed in on two land parcels owned by Hyderabad Metropolitan Development Authority (HDMA) and two other belonging to private parties for its stores in the city. Each of the new Best Price stores is expected to require four acres and the company will go for outright purchase of the land. Walmart is likely to invest Rs 150 crore on each store in Hyderabad while investment into the Tier-2 city outlets will be lower.
“The company is going to invest anywhere between Rs 600 crore to Rs 700 crore on these stores which will eventually generate 4,000-5,000 new jobs,” the TSIIC chief said. Walmart will apply for requisite approvals after identifying the lands. “It will apply for approvals through TS-iPASS (Telangana State Industrial Project Approval and Self-Certification System) and we will extend whatever support the company needs,” he added.
Walmart with its massive expansion plans is the second global major to set its eyes on Telangana in last one year after Swedish furniture retail giant IKEA arrived with plans to establish its first India outlet in the city with an investment of Rs 500 crore.
The company spent a whopping Rs 250 crore to purchase a 13-acre prime land in Hi-Tech city area where it will establish world class outlet by 2017. It is expected to generate over 2,000 direct and indirect jobs.
