METRO TO CARRY OUT PUNJAB PLANS • Co To Pump Rs 900 Cr In First Phase; To Start Ops In Jalandhar, Lu
METRO Cash & Carry, the wholesale division of Germany-based Metro Group, on Tuesday unveiled its plan to start operations with units at Jalandhar, Ludhiana and Amritsar. Director (development & expansion) Erik Schmit on Tuesday met Punjab CM Parkash Singh Badal and unveiled the company’s business plans for the state. To begin with, the company has proposed to pump in Rs 900 crore to start its chain of distribution-cum-retail centres in Punjab. The company would set up three more centres at Mohali, Patiala and Bathinda in the second phase. In India, Metro serves three types of customers — retailers, hotels and caterers — and other businesses, including IT companies and offices. The company sells around 8,000 type of food products and 10,000 non-food products. The ventures would result in creation of 2,700 jobs for local youth and impart training in modern management practices. Besides sourcing vegetables, fruits and other fresh items directly from local farmers, thereby eliminating the middlemen, the company is committed to supplement the income of the farmers,” said Mr Schmit. Metro is at present busy setting up its fourth and fifth distribution centres in Kolkata and Mumbai. Its Mumbai centre is being set up at Neptune’s Magnet Mall by the end of 2007. At present, Metro operates two distribution centres in Bangalore and one in Hyderabad. It will open its fourth wholesale store in Kolkata this year. About 90% of the goods offered originate from local producers and suppliers. In the last four years of its presence in India (till March ‘07), Metro has acquired 3.13 lakh members. Its products are sold only to its registered members