Portuguese retail chain operator Jeronimo Martins plans to invest EUR 650-700 million in 2013 and will allocate 70% of the sum to the development of its Polish chain Biedronka, Jeronimo Martins said in a presentation of 2012 earnings.

"The investment program envisaged for 2013 is planned to be between EUR 650-700 million, of which 70% will be invested in Biedronka and EUR 100 million in Colombia," the company said.

"The expansion plan [in Poland] includes the opening of around 290 stores, as well as the opening of two new distribution centers," the presentation shows.