The Thai arm of French retail giant Carrefour is set to bolster registered capital for expansion by a further 1.5bn baht (US$33m).
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The money will be added to the 7bn baht (US$154m) already set aside by CenCar Co to fund expansion. Pascal Billaud, managing director of CenCar, revealed that during 2002 the money would fund the building of two new large stores, in Samrong and Onnuj, and new outlets in Bang Khae, Ratchadapisek, Bang Bon and Bang Pla Kot.
Billaud is confident that with over 160,000 households as a retail base there is still plenty of scope for expansion within the retail industry as a whole.
Four existing stores are also due to be remodelled next year, and the company plans to spend around 100m baht (US$2.2m) on a marketing campaign.
For this year, CenCar expects to post a 15% increase in sales revenue from last year, to reach 13.3bn baht (US$293m).
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