News: Aditya Birla to invest $2 b in retail

(RTR 18/05/2007) Mumbai - Aditya Birla group will invest Rs 8000-9000 crore ($2-2.2 billion) in its retail venture in the next three years, the group's chairman, Kumar Mangalam Birla, told reporters on Friday.

Aditya Birla Retail Ltd, an unlisted firm of the group, plans to launch the first store in Pune, in western India, this month, he said.

"We are really going it alone, without a joint venture partner," Birla said.