Convenience store company 7-Eleven Mexico has said it plans to invest around US$30m to open 100 new stores by the end of the year.

According to Luis Chapa, chief executive of 7-Eleven Mexico, the new stores will be located in Mexico City and six other states, reported Reuters.

7-Eleven Mexico is a joint venture between US convenience store giant 7-Eleven and Mexico's Grupo Chapa. The company has around 500 stores and is one of the largest convenience store chains in Mexico.