World's largest retailer Wal-Mart plans to enter Gujarat through the NRG-rich belt of Gujarat - Anand, also India's milk capital.
Wal-Mart, through its Indian joint venture Bharti Wal-Mart Pvt Ltd, has kicked off work on the project on Anand-Sojitra Road. This will be its first mall in Gujarat in the wholesale format. Like in other states, the mall in Anand will operate under the 'Best Price Modern Wholesale' name.
The 50,000 sq feet mall is coming up on three acres of land, which as per present jantri rates costs Rs 4.37 crore. Construction at the site for the single floor mall started since March-end and is likely to get over by July-end , sources said.
A Bharti Wal-Mart spokesperson told TOI that as a policy, the company does not comment on specific real estate properties."We plan to open 12-15 new Best Price Modern Wholesale stores in 2012, mainly in south and west India," the spokesperson said in response to an emailed query. Wal-Mart's next venture in Gujarat is likely to be in Ahmedabad, probably on Ahmedabad-Bagodara highway .
The firm has already begun recruitments for its scheduled launch. The campus interviews where management graduates from a couple of Anand-Vallabh Vidyanagar based MBA colleges were invited were held a fortnight ago.
"A total of 20 students from our college had appeared for the interviews before a fortnight . We are yet to get any offers though," K S Prasad, associate professor and placement officer at the G H Patel P G Institute of Business Management, affiliated to Sardar Patel University , told TOI.Last year, amid the row over foreign direct investment ( FDI) in retail in the country, Bharti Wal-Mart had started scouting for land in Vadodara and was close to sealing a deal for a huge piece of land in Manjalpur.
The company was also in talks with an Ahmedabadbased realtor for a 20,000 square yard land along SG Road. But, for some reasons, the deals were not struck.
Source:TOI.IT
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