Its Managing Director, Datuk Ameer Ali Mydin, said land acquisition for the six hectare factory site would cost RM7 million and construction another RM60 million.
He said the continued confidence in the peoples' purchasing power prompted Mydin Mohamed Holdings to invest in another hypermarket in the state.
"The state government is offering various incentives to lure investors to turn Melaka into a shoppers paradise for tourists," he said, adding that construction of the factory would begin in March 2010.
"The hypermarket will be ready for commercial operations in May 2011 and provide business opportunities for local retailers," he told reporters in Melaka today after a signing ceremony for the purchase of the factory land from the Melaka Customary Lands Development Corporation (Pertam).
Melaka Chief Minister Datuk Seri Mohd Ali Rustam witnessed the signing of the agreement between Ameer, who signed on behalf of his company, while Pertam was represented by its Deputy Chairman Datuk As'ari Ibrahim.
Ameer said Mydin's biggest hypermarket was operating at the Melaka International Trade Centre (MITC) and generated a monthly turnover of RM18 million while another two outlets operated at Melaka Sentral.
The Bandar Jasin Bistari hypermaket is expected to cater for consumers as far as Muar and Tangkak and will be Mydin's 48th outlet in the country providing employment for about 280 people.
By Bernama
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