Furniture,Wood sector projects by Ikea Trading India Pvt Ltd in Bengaluru
Project Information
6998
Ikea Trading India Pvt Ltd
Ikea, the world’s largest furniture retailer, plans to purchase land to build four stores in Karnataka, entailing a total investment of Rs.2,000 crore.
The four stores will be opened in Bengaluru, the state capital, and each will cost Rs.500 crore, said Juvencio Maeztu, chief executive officer of Ikea India.
K. Ratna Prabha, the additional secretary with the state’s industries department, confirmed on the sidelines of the Karnataka Investor Summit under way in Bengaluru that the Swedish retailer had expressed interest in buying land.
Each Ikea store in Bengaluru will generate 500 local jobs and the company will reserve 50% of them for women, said Maeztu.
An Ikea store requires seven to eight acres and takes about 12-18 months to build from scratch.
Each store will also provide indirect employment to 1,500 people, taking the total number of job opportunities to 2,000.
Project Value
INR 2000 Crore /-
Planning
Bengaluru
Karnataka
India
Furniture,Wood
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