German retail giant Metro has reportedly signed a deal with the Dalian municipal government to open a store in the northeastern Chinese city.
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Metro will invest US$13m in a 35,200 sq m hypermarket in the city in the Liaoning province, reported the Shanghai Daily.
“The Dalian store is a key step for Metro to explore China’s northeast region,” Jean-Luc Tuzes, president of the Shanghai-based Metro Jinjiang, was quoted as saying.
“Metro will use Dalian as a centre to open more stores in the northeast region.”
The store is expected to open at the end of the year. Preparations are also reported to be underway for new stores in the northeast cities of Shengyang, Harbin and Changchun.
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By GlobalDataMetro has 17 outlets in China, of which four are in Shanghai. Tuzes said he plans to open 40 stores in China in the next three to five years.
