Metro Cash and Carry is to invest US$75m in opening two more stores in the Indian cities of Mumbai and Kolkata.
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The programme will give Metro Cash and Carry five stores in India by the middle of the year.
Vishal Sehgal, head of corporate relations at the company, said it costs just above US$35m to set up a single store.
He added: “The exact dates for opening are not set at this point, but it should be somewhere in the mid of this year.”
Metro Cash and Carry has two stores in Bangalore and another outlet more in Hyderabad.
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By GlobalDataThe cash-and-carry format is the one that allows multinational companies to set up shop in India without a local venture partner.
Shoppers are typically traders themselves and need to register using their tax identification numbers.
