Maharashtra: Walmart and ATL send mega investment proposals to state amid economic lowdown

Walmart India, a wholly owned subsidiary of Walmart Inc has proposed to invest Rs 600-1,000 crore to set up 10 more Cash & Carry stores for wholesalers.


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DNA

Updated: Aug 30, 2019, 06:10 AM IST

In the poll bound Maharashtra, the government has received investment proposals of over Rs 6,000 crore in the retail and mobile battery manufacturing. Representatives of two companies evinced their interest during their meeting held on Wednesday with the Maharashtra Industrial Development Corporation CEO P Anbalagan.

Walmart India, a wholly owned subsidiary of Walmart Inc has proposed to invest Rs 600-1,000 crore to set up 10 more Cash & Carry stores for wholesalers. This will be in addition its existing Best Price stories at Amravati and Aurangabad. Walmart India will explore locations at Supa, Dindori, Pune, Kolhapur, Sangli, Nagpur and two sites in Mumbai.

Anbalagan told DNA, "The company has big plans for starting new stores in multiple cities of Maharashtra. Walmart would like to explore the possibility of leasing land from MIDC at these locations. In general the requirement of a standard Walmart store would be a commercially approved location. The investment will in 10 cities in approximately 40 acres and will create employment opportunity for about 20,000 (direct and indirect).''

Walmart India president and CEO Krish Iyer said the company had signed an MoU with the state government to build several Cash & Carry stores over the next few years under the brand of 'Best Price in the State of Maharashtra'.

There are already two Cash & Carry stores in the State – in Aurangabad and in Amravati. "The Cash & Carry stores will be set up in different cities where we are currently looking for suitable sites. Our stores have the potential to augment the local economy through employment opportunities for local youth, sourcing from local farmers and their training, development of MSME regional suppliers, women entrepreneurship development and women's economic empowerment programs," he said.

As far as the investment by China based ATL in the first phase proposes to invest Rs 4,200 crore for the production of mobile batteries and other gadgets. "The company will be shown lands in Nashik, Patalganga and Pune belt. They will need about 200 acre,'' Anbalagan said.

He informed that ATL is one of the leading producer and innovator of lithium-ion batteries. Known worldwide for our high-tech, high-volume prowess in developing, producing and packaging high quality rechargeable lithium-ion battery cells and packs. ATL' shipments has kept a forefront position in the field of consumer polymer lithium batteries these years. They have expressed interest in manufacturing in India.

ATL will plan to set up a plant with containing around 31 plus assembly lines in India by 2024. Production and sale of lithium-ion batteries.

Big Numbers

China based ATL in the first phase proposes to invest Rs 4,200 crore for the production of mobile batteries and other gadgets
Walmart India has proposed to invest Rs 600-1,000 crore to set up 10 more Cash & Carry stores for wholesalers in Maharashtra

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