Industrial giant Sabanci Holding has revealed plans to pump US$80m of funds into the Turkish food-retailing sector during the course of 2002.
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Sabanci Holding currently has interests in three chains in this sector. Since 1996, the group has invested US$100m in a joint venture with French giant Carrefour this year, which saw the establishment of hypermarket chain Carrefour SA.
By the end of next year, Sabanci aims to expand its supermarket chain to 23 stores. The group’s discount store chain DiaSa is meanwhile expected to consist of 90 stores by the end of December, and 135 by the end of 2002.
