Wesfarmers Ltd
(ASX:WES) has announced a $600 million expansion of its home improvements retailer Bunnings, set to open 18 more New South Wales stores in the next three years. The investment is expected to create 2,700 permanent jobs and a further 3,900 jobs during the construction period.
The hardware retailer says 12 sites have already been secured and three warehouses are currently under construction.
The Bunnings store located at Alexandria is poised to be Australia's largest home improvement store, Wesfarmers says with floor space of 20,000 square metres and scheduled to open in mid 2012.
Bunnings managing director John Gillam says the NSW opening program is part of the company’s ongoing network expansion strategy across the country.
New South Wales Preminer Kristina Keneally says the NSW economy will benefit from the investment.
Adding, that with five of the sites located outside of the greater Sydney area, regional and rural economies will also reap the rewards of an employment and economic stimulus.
Bunnings currently employs over 30,000 people in 281 locations across Australia and New Zealand.
Wesfarmers reported a profit of $1.6 billion in the year to 30 June 2010.
