Metro Cash & Carry to invest Rs 1k cr in Punjab
Metro Cash & Carry an international self-service wholesale retailer company will set up two wholesale distribution centres at Zirakpur and Ludhiana operational by mid 2011. The total investment in Punjab is expected to be around Rs 1,000 crore when the company launches a total of six distribution centres in the state.
Metro Cash & Carry CEO Asia, Frans Muller, who called on the Punjab chief minister Parkash Singh Badal, stated this on Wednesday. He said, The group would also launch other two distribution centres at Patiala and Jalandhar by the end of year 2011 .
The distribution centre will be a one stop shop which will stock food and non food products to cater 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.
Additional principal secretary Gaggandip Singh Brar told FE, It is good for Punjab that such a big retail chain, known for its quality products has proposed to enter. 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 also provide training to farmers on how to increase productivity.
A six-member delegation led by Muller apprised the chief minister that these centres would give a push to the modern practices in the development of the state, with focus on agriculture development and employment generation in allied farming.
Muller said the company was also contemplating to establish two more such centres at Bathinda and Amritsar. He also said the group has already set up two such distribution centres each at Hyderabad and Bangalore, besides one each at Kolkata and Mumbai. He said perhaps this was the biggest investment in India by the internationally acclaimed wholesale corporate house. Muller further appreciated CM s committment for giving all the requisite clearances to them for setting up the wholesale chains in the state.
Badal asked Muller to set up different sourcing centres of vegetables and fruits in Punjab. He suggested the company to explore the possibility of setting up these sourcing centres well-equipped with the facilities like cold chain, packaging and grading etc near Malerkotla, which is known for vegetables, Hoshiarpur and Abohar for kinnow.