Its managing director Datuk Ameer Ali Mydin said land acquisition for the six-hectare factory site will cost RM7 million and construction another RM60 million.
He said the continued confidence in the people's purchasing power prompted Mydin Mohamed Holdings to invest in another hypermarket in the state.
"The state government is offering various incentives to woo investors to turn Malacca into a shoppers' paradise for tourists," he said, adding that construction of the factory will 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 Malacca yesterday after a signing ceremony for the purchase of the factory land from the Melaka Customary Lands Development Corporation (Pertam).
Malacca 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 is operating at the Melaka International Trade Centre (MITC) and generated a monthly turnover of RM18 million while another two outlets operated at Melaka Sentral.
By Bernama
Posts
No comments:
Post a Comment