HYPERMARKET operator Tesco Stores (M) Sdn Bhd plans to open between 15 and 20 outlets nationwide within the next five years, chief executive officer James McCann said.
The company would invest RM50mil to RM120mil in each new store, depending on location, physical set up of the building, floor area and stock holding.
To-date, we have invested some RM800mil in eight hypermarkets and one supermarket, Tesco Express, in the country, McCann told reporters at the signing of a 30-year land lease with UMLand Bhd subsidiary, Seri Alam Properties Sdn Bhd.
UMLand was represented by group chief executive officer Wan Abdullah Wan Ibrahim.
Tesco's existing eight stores are in Puchong, Malacca, Klang Bukit Tinggi, Mutiara Damansara, Sungai Petani, Jelutong, Ipoh, Shah Alam and Tesco Express in Selayang.
McCann said the company would invest RM39mil in its first Tesco outlet in Johor at Seri Alam.
Work on the project would start soon for completion by end-2006. The outlet would have 6,000 sq ft of store area and a 6,300 sq ft mall area.
The company currently employs more than 2,000 people and in the next five years, we plan to create 10,000 employment opportunities, he added.
McCann said negotiations between the company and Uda Land Bhd were still ongoing on the opening of another Tesco outlet at Jalan Tampoi.
He said the Tampoi outlet was supposed to have been Tescos first in Johor.