Shenzhen International Trust & Investment Company has reached an agreement with Laiwu Municipal Government for opening a Wal-Mart Supercenter in Laiwu, Shandong Province.
Liu Jianliang, vice mayor of Laiwu, congratulated the signing of contract and said that Wal-Mart is the first international top retailer that has ever been introduced into Laiwu. Liu believes that the entry of Wal-Mart will promote the development of employment, hospitality industry and the optimization of industrial structures in Laiwu.
Li Ming, general manager of Wal-Mart Shandong branch, says that SZITIC will pay close attention to the project quality and open the Supercenter as soon as possible to serve the citizens in Laiwu.
With an overall investment of RMB250 million, the Wal-Mart Supercenter in Laiwu will occupy an area of 40 mu. Located in northwest of the crossings of North Hua Yuan Road and East Wenyuan Street, the Supercenter will cover a construction area of 40000 sqm. More than 2000 job positions will be open after the completion of the project.
Founded in 1962, Wal-Mart has become one of the world's largest private employer and retailer. The company employs over 1.8 million associates worldwide and operates more than 6,600 units in 14 countries.