Wal-Mart de Mexico is seeking to invest about $178.9 million in the State of Mexico in 2011, The Wall Street Journal reports. The investment will be used to modernize its logistics network and open 50 new stores.
The expansion plan will involve hiring 3,800 new employees, raising its payroll to close to 42,000 people in the state that surrounds the Mexican capital. The retailer has invested $1.69 billion in the country, where it has 398 stores and restaurants, since launching operations in 1966.
Click here for the story from The Wall Street Journal.