Germany-headquartered retailer Metro has signed an investment contract with the government of Yantai, Shandong to build a new supermarket in the Zhifu district of the city.
With a total investment of USD10 million, this new Metro supermarket will be independently developed by the Metro Group.
The contract was signed during the Third Yantai International Wine Festival in September 2009. Apart from the Metro project, 18 other foreign-invested projects with total value of USD650 million were also signed at the festival.
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