Siam Makro PCL to invest Rs 250 crore in UP

Thailand-based retailing firm Siam Makro PCL, which has entered into cash and carry segment in the country under the brand name Lots Wholesale Solutions, today announced to invest Rs 250 crore in Uttar Pradesh.
The company has signed a memorandum of understanding (MoU) with the Uttar Pradesh government at the ongoing UP Investors' Summit in Lucknow, said Lots Wholesale Solutions in a statement.
It expects to generate 1,500-2,000 direct and indirect employment opportunities within the state of UP through their stores, it added.
"This MoU paves the way for an extensive retail rollout by us which will provide multiple opportunities small and medium suppliers to grow their business as well as Kirana and HoReCa segment who will receive service par excellence," said Lots Wholesale Solutions MD Tanit Chearavanont.

Lots Wholesale had last month announced its plan to launch 15 stores across North India in next three years, in which the first two stores to open in Delhi and Noida this year only.
"The next phase will see extension into other major cities of Uttar Pradesh such as Lucknow, Agra, Varanasi, Kanpur, Meerut, and Allahabad," the company said.
Besides, Lots Wholesale Solutions will establish special collection centres in key locations within the state of UP to source raw material from farmers directly and support local handicraft like khadi through manufacturing of uniforms etc.