Auchan To Invest Almost €500m In Tunisia

French retailer Auchan has revealed plans to open five commercial retail centres in Tunisia, with th…

French retailer Auchan has revealed plans to open five commercial retail centres in Tunisia, with the intention of investing a total of €448.6 million.

The news has been reported by the African news agency Panapress. The move is expected to have a positive effect on the Arab country's economy, which is still recovering from the revolution of three years ago.

It has also been reported that the new venture will be done in collaboration with Tunisian supermarket chain 'Magasin Général'.

"This project which was presented to Interim Prime Minister Mehdi Jomaa will create 6,000 jobs," a source close to the Bayahi Group, who owns Magasin Général, told news agencies.

The five hypermarkets look like they will be located in the Tunisian regions of Rades, Gafsa, Tozeur, Jendouba and Sousse.

By the end of last year, Auchan boasted 774 hypermarkets, 817 supermarkets and 362 shopping malls in 15 countries, predominately in Europe and Asia.

Revenue at the group reached €62.1 billion in 2013.