Costco – the US-based international chain of membership warehouses selling food, general merchandise and electricals – plans to invest Aus$120m (£59.8m) in expanding into New South Wales, Australia.

It will open its first discount warehouse in the region at Auburn in western Sydney. Costco, which may open more stores in the area, is seeking approval to build an Australian headquarters in Sydney.

Costco operates more than 550 warehouses around the world.

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