“We are going to make an investment of around Rs 1,000 crore in Gujarat. It will depend on our VSF plant to add on to the production capacity and other features towards developing new applications and superior quality VSF,” Group chairman Kumar Mangalam Birla told reporters on the sidelines of the launch of its more.megastore (first hypermarket in the state) on Wednesday.

VSF is a manmade, biodegradable fibre with characteristics akin to cotton. The Group has three VSF plants across the country. The Kharach plant was set up in 1996 with the the latest technology giving it a competitive edge in the export market, said company officials. The other two plants are located at Nagda in Madhya Pradesh and Harihar in Karnataka.

Birla said a dozen-odd mega stores will be opened all over the state. “After a year's foray into the retail sector, we plan to increase the tally of our stores from the present 430 to nearly 500 across the country before March end,” he said. Birla added that they would offer extensive range of one-stop-shop for the entire family , adding that it will have an edge over others, and offer regional, national and international products at an affordable price.

Sumant Sinha, CEO Aditya Birla Retail Ltd, said, “We plan to open a dozen more stores in Gujarat by next year. Sites have been identified and they are in different stages of development in major cities across the state.”

Hypermarket CEO Russell Berman said, “Vadodara more.megastore sprawls over 1,49,000 sq ft and offers large range of products including fruits, vegetables, groceries, FMCG, general merchandise, apparels, electronic, computers, mobiles and other products sourced from the domestic and international market.”