Walmart has announced plans to invest $1.3 billion in Chile over a five-year period, resulting in the opening of 70 new stores and the creation of around 4,000 new jobs.

The retail giant said the investment will allow it to expand into new regions of the country including Vallenar, Los Vilos, and Pozo Almonte.

Walmart Chile currently operates several supermarket formats in the country including Lider SuperBodega and Central Mayorista. It currently has around 400 stores in Chile and is the third largest employer with about 40,000 employees.

Walmart will also open its ninth distribution centre in southern Chile as part of the plans, with the company aiming to promote growth and increase the accessibility of its products.

The investment includes measures to address climate change, with Walmart fitting over 50 of the new stores with solar panels. It says this will mean more than 80 per cent of the energy Walmart Chile uses will be renewable.

Walmart said that Chile poses some logistical issues, with its southernmost store in Punta Arenas located over 2,000 miles from the central distribution centre. The area is also subject to extreme weather conditions which result in road closures and border crossings.

As a result, Walmart said it will work on improving supply chain routes by land, air and sea. The plans also include an e-commerce strategy to deliver products via ferry to the 25 residents of Puerto Toro, the southernmost permanently inhabited community on earth.

“This is not just an investment in infrastructure and technology; it is an investment in people, in communities,” said Walmart Chile president and chief executive Cristián Barrientos. “We are building a better future for everyone, for future generations and for our children.”

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