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DUSSELDORF -- Germany's Metro Cash & Carry Group will start building a new wholesale center in Hanoi by the end of July, according to published reports.
This will be the second wholesale Cash and Carry store in Hanoi, and which will help develop the trade system in the city, according to Hanoi government officials who are familiar with the project.
The store will be located on a site just under 7 acres next to the Yen So Park in Hoang Mai District. Besides selling goods, the new center will set up a division for purchasing goods, as well as a warehouse for the north region to help meet increasing consumer demand.
The first Metro in the city, positioned in Tu Liem District's Co Nhue, was built with total investment of $ 15 million, and has generated VND770 billion (US $49 million) in revenues last year. The investment in the Hanoi location was not disclosed.
This year, Metro Cash & Carry Vietnam plans to build an additional wholesale store in northern Hai Phong City.