New York City -- Wal-Mart de Mexico SAB (Walmex) plans to increase investment by 45% in 2011 from last year as it expands its business in Mexico and Central America, Bloomberg reported.
Capital expenditures will increase to 18.97 billion pesos ($1.56 billion) this year, CEO Scot Rank said in remarks broadcast on the company’s website.
Wal-Mart de Mexico, which now operates more than 2,000 retail stores and restaurants, plans to open 445 stores in 2011. It will open 365 of the new businesses, mainly warehouse and discount stores, in Mexico. Walmex plans to open 80 stores in Central American nations.