Foodworld to invest Rs 80 Cr every year

Bangalore, May 29 (UNI)The Retail chain Foodworld Supermarkets Limited, operating more than 60 stores in south India, will 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 and also spread its wings to the Northern region of the country.

He said over the next two years, the number of units would jump to 200 from 60 at present. In addition, Rs 10 crore would be spent annually on people management.

Mr Yum said India was 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,'' he pointed out.

UNI