Mukesh Ambanis Reliance Industries group, which is giving final touches to its mega retail sector foray, is planning to roll out multiplexes in its bigger malls across the country. Reliance will kick off the retail venture with its first mall in Ahmedabad, on the already mall-busy SG Highway, by Diwali this year.
That will be followed by one mall each in Surat and Jamnagar-where Reliance has its petroleum refinery. The company is planning to set up at least 30 malls spread across 25 cities in Gujarat in the next couple of years. It has already acquired a mill land in old Ahmedabad for a second mall.
Apart from malls, Reliance is also going to set up super-markets and speciality stores. Several super-markets are planned in Gujarat. In the first foray in its speciality stores it is going to set up around 35 outlets specifically for vegetables and fruits in Ahmedabad city alone. These outlets will be in about 2,000 square feet in size and will be taken on leased-rental basis. A state and national level logistics and sourcing system is being put in place for sourcing and transporting vegetables and fruits.
Reliance is investing Rs 100 crore in the 2 lakh square feet Iscon Mall coming up on SG Highway. Another Rs 75 crore is going to be spent on the Shahibaug mill-mall which is spread over 2.6 lakh square feet. The company may consider setting up a multiplex at this mall, the source added. A smaller mall is also coming up on CG Road with an investment of Rs 55 crore.
The minimum size of every mall in the state will be in excess of 10,000 square yards. Reliance has already acquired land for setting up 4 malls in Surat city. It is also planning to have two each in Vadodara, Rajkot and Jamnagar. Single malls will also be set up in Bhavnagar, Nadiad, Anand, Mehsana, Bhuj, Gandhidham and other cities in Gujarat.
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| Posted : 6/21/2006 |
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