From correspondents in Maharashtra, India, 09:30 PM IST

Papa John's, the world's third largest pizza chain, plans to invest over $62.5 million (Rs.2.5 billion) over the next four years for their aggressive expansion projects in India, a top company official said here Thursday.

The American pizza chain will open at least 100 retail outlets in country till 2011, said Tapan Vaidya, general manager of JIP fashion, Papa John's Indian franchisee.

Papa John's vice president Myles Felt said: 'The Indian market is growing and the number of total pizza outlets in last 8-9 years has grown by 15-20 percent. I expect it to grow even faster at 25-40 percent this year.'

He was speaking at the opening of their fourth outlet and their flagship store in the suburb of Powai.

(Staff Writer, © IANS)