Chilean hypermarket chain Tottus will invest $60 mln (41.23 mln euro) in the opening of up to 15 hypermarkets in Peru in 2008, the CEO of Tottus, Juan Correa, said on November 6.
Some 50 pct of the hypermarkets will be located in Lima, he added. The remaining will be definitely opened in cities such as Chiclayo, Trujillo and Arequipa, Correa was quoted as saying.
Peru is currently enjoying an economic stability and growth, which is the main reason Tottus wants to expand on the Peruvian market, he commented.
Tottus opened a new hypermarket in Lima's district Chorrillos on November 6. The new hypermarket is the fifth of the company in Peru.
Tottus is owned by the Chilean retail chain Falabella. The total investment plan of Tottus for 2007 stands at $50 mln (34.36 mln euro).
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: November 7, 2007
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