McDonalds, leading Fast-food chain, intends to spend about Rs 400-500 crore over the coming three-years with the aim to establish 120 restaurants.

US-based McDonalds has decided to open 40 outlets annually through its two equal joint ventures in the country - Connaught Plaza Restaurant Pvt. Ltd and Hardcastle Restaurants Pvt. Ltd.

At present, the fast-food chain operates a total of 170 quick service restaurants (QSR) in India.

The sources informed that Delhi-based Connaught Plaza Restaurant runs 90-odd restaurants in the north as well as east of India, while Mumbai-based Hardcastle Restaurants operates 78 outlets in the south and west.

McDonalds' representatives stated in a communiqué that the funding of the investment would be done equally through debt and equity.