Wal-Mart To Invest $150 Million In Argentina In 2010



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By Taos Turne, Dow Jones Newswires
November 29th, 2009

-Wal-Mart Stores Inc. (WMT) will invest $150 million in Argentina in 2010 to expand operations, the company said late Wednesday.

Wal-Mart Argentina President Ezequiel Gomez Berard made the announcement in a meeting with Argentine President Cristina Fernandez.

In addition to its local retail operations, it has been exporting goods, Wal-Mart said in a statement.

In 2008 Wal-Mart Argentina exported goods totaling $30 million while so far this year it has exported $36 million worth of products to Brazil, Japan and the U.S.

Wal-Mart employs 9,100 workers in Argentina.

So far this year, the retail giant has invested $120 million to open stores. By the end of 2009, Wal-Mart will have 43 stores in 32 cities around the country.