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VISAKHAPATNAM: Big Bazaar of Pantaloon Retail (India) Ltd was opened here on Wednesday and it expects Rs 50-cr turnover in the first year. After inaugurating the bazaar, Mr Vishnu Prasad, President (Operations), South, Pantaloon Retail (India), said at a press meet that Rs 50 crore had been invested on it, the second one in the State.

``The first bazaar was opened in Hyderabad in 2001 and it is doing business of Rs 80 crore per annum. We are planning to open another one in Hyderabad by January 2006, and the next one in Vijayawada by June. We want to have 12 such bazaars in the State by 2008,'' he said.

He said it would cost Rs 40-50 crore to open such a bazaar and currently there were 21 in the country. "We want to open 80 bazaars by 2008,'' he said.

Pantaloon's turnover by the end of March 2005 was Rs 1,200 crore and it aims to double it during the current financial year.

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