Foodworld to invest Rs 80 cr every year

Bangalore, May 29: Retail chain Foodworld Supermarkets Limited, operating more than 60 stores in South India plans to invest Rs.80 crore every year till 2009.

Company Chief Executive Officer Norman Yum told newsmen here after opening the Chain's 'Gourmet' that Foodworld would shortly move to Mumbai besides spreading its wings in Northern India.

He said over the next two years the number of units would jumpt to 200 crom the current 60. In addition Rs.10 crore would be spent annyally on people management.

Mr Yum said that "India is fast becoming one of the favorite destinations for expats from across the globe. There is also a boom in international travel that India is witnessing and people are increasingly exposed to international cuisines."

UNI