The Taiwan-headquartered supermarket group RT-Mart has signed an agreement with Taizhou, Jiangsu, to open a new supermarket, which is expected to start construction in October 2009 and open to business during the National Day holiday in 2010.
With an investment of USD40 million, the new RT-Mart will be located on the southern side of the Nantong Road and on the eastern side of the Gulou Road.
According to a representative from the city construction engineering command department of Hailing District, the entry of RT-Mart will remedy the lack of a large scale supermarket in the northern area of the city. The project also marks the beginning of a major renovation project around the Michang area in Hailing District.
It is understood that the renovation project around the Michang area will create about 60,000 square meters of new construction area with total investments of about CNY200 million.