Tweaking terms and conditions with its joint venture (JV) partner for a realty project on the fringes of Kolkata has come handy for Bata India, the largest shoes makers in the country, which plans to shell out between Rs 150 to Rs 200 crore over the next three years to set up new plants and buy machinery.

The fresh investments will also be used to open new outlets across the country, Bata India chairman PM Sinha said.

Sinha added that the shoemaker would be getting as much as Rs 100 crore from its JV partner Calcutta Metropolitan Group (CMG) as per the revised terms and conditions for the Calcutta Riverbank Project at Bata Nagar near Kolkata. “A large part of this Rs 100 crore has already come in, and we will get the remaining amount shortly. We will also receive 6,40,000 square feet of constructed space free of cost in the project over a period of time,” Sinha said. Calcutta River Bank is a 50:50 JV between Bata India and CMG.

Responding to queries on the company’s expansion plans, Sinha said, “We will open more than 70 stores every year over the next three years.”