Domestic retail chain Mercator is set to lay the foundations for its US$30m hypermarket in Belgrade, Yugoslavia, on 29 November 2001.

Vladimir Kravcuk, head of Mercator's Belgrade-based branch, added that firm hopes to open the outlet within a year.

No contractor has yet been appointed to complete the construction of the hypermarket, but Mercator plans to invite four or five Slovenian and Serbian construction companies to form a consortium with a view to building the store within nine months.

Mercator has already invested US$7.4m in the purchase of a 2.7 ha land plot for the hyper-market.