Spanish retailer DIA has announced plans to invest more than $100 million for expanding and remodelling its store network in Argentina.
The initiative will generate approximately 3,000 direct and indirect jobs.
The investments will be made in the period between 2021 and 2023, the retailer added.
The announcement was made by Stephan DuCharme, executive president of Grupo DIA.
Accompanied by Martín Tolcachir, CEO of DIA Argentina, DuCharme held a meeting with the president of the country, Alberto Fernández; the minister of productive development, Matías Kulfas; and the secretary of small and medium enterprises, Guillermo Merediz.
Currently, DIA Argentina's store network comprises 904 outlets.
Commenting on the investment, DuCharme said, "With this investment and growth plans, we reaffirm our commitment and our long-term vision with Argentina, with all our clients, collaborators, franchisees, suppliers and the community in general.
"DIA has been a benchmark for proximity in the sector for almost 25 years and this project will allow us to further strengthen our leadership."
The store remodeling project will be carried out in seven provinces – Buenos Aires, Entre Ríos, Corrientes, Santa Fe, Chaco, Jujuy and Salta.
The investment plan will also see the construction of a new distribution centre that will supply the new stores within the framework of the company's ambitious project in Argentina.
CEO of DIA Argentina, Martín Tolcachir, said, "The investment plans mean accelerating the changes we have been working on to make DIA the preferred supermarket for Argentines, with the best proposal for them to shop for quality food at the best price.
"The new commercial offer with a renewed own brand, a more modern store and a fast and effective online service supported by collaborators and franchisees motivated to be closer every day, will lead us to achieve our goal."
In Brazil, DIA recently remodelled the perishables sections in its stores to offer more fresh products in a practical and modern way.