Dubai based Cellucom to invest Rs 500 cr in India

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UAE mobile retailer Cellucom will invest Dh 500 million (Rs 500 crore) for rolling out 500 stores across India by the end of 2009.

Cellucom Chief Executive and Managing Director Arun Nagar said the company would open 15-20 stores every month in India, "where we already have 200 retail outlets presently."

By the end of 2009, we expect to open 500 stores across the country, with an investment of around Dh500 million, he was quoted as saying in Gulf News.

This year, the company plans to invest Dh 250 million for expansion, he said.

Cellucom, one of the largest mobile phone retailers in the region, has 90 stores across the Gulf Cooperation Council (GCC) countries.