Newstrack

Metro Cash & Carry to invest Rs 900 cr in Punjab

Swarleen Kaur - Chandigarh

After registering its presence in Bangalore and Hyderabad, Metro Cash & Carry, an international wholesale enterprise is set to capture the Punjab market now. The company has proposed to invest Rs 900 crore in the state by launching its six distribution centres here. Bringing in its supply chain, the retail giant is aiming at generating employment for about 2,700 persons in the state. Besides, the project is slated to get the approval in empowered committee of the Punjab government to be held within this week as per Vijay Kumar Janjua, director of department of industries and commerce, Punjab.

The Germany-based retail giant Metro Cash and Carry, which has 600 supply centres across 30 countries, will set up two distribution centres in Ludhiana, one each in Amritsar, Jalandhar, Zirakpur and Mohali. Each centre will cover an approximate space of eight acre and all are expected to be completed by 2010. Speaking on the project, Janjua said, "The project will be presented in the empowered committee to finalise the details. We will also consider giving incentives to the retail giant as per the guidelines. It is good for Punjab that such a big retail chain which is known for its quality products has proposed to enter in the state." Under the proposal the company will procure produce directly from farmers, agricultural co-operatives, and other manufacturers to provide direct supply to customers eliminating the role of middle-men. The company will have storage houses equipped with latest technology which will intact the quality products. Moreover, the company will also provide the training to farmers on how to increase productivity.

The distribution centre will be a one stop shop which will stock food and non food products to cater to the needs of all business customers. The retailer, which is known for its low-priced products, will bring in business-to-business (B2B) model, to fulfill the requirements of all small and medium enterprises, retailers, caterers' hotels, and restaurants.