Brazil Property News: Wall-Mart invests in north-east Brazil




4th September 2007 11:33


US supermarket chain Wall-Mart is to invest 400 million reais (£101 million) in the north-east of Brazil.

The Brazilian subsidiary of the firm hopes to create 2,500 jobs from the 19 new stores in the region and existing stores will be modernised.

Vicente Trius, chief executive of Wal-Mart Brasil, said: "Of these new operations, eight supermarkets will be built in Pernambuco, seven in Bahia and three in Rio Grande do Norte,"

A further store will be built in Ceará.

Across Brazil, Wall-Mart aim to open 28 new stores and 19 pharmacies with around 1 billion reais (£253 million).

Figures for July show Brazil's supermarket spending increased 4.2 per cent over the month.


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