In proportion to its amortization plan, Mexico’s No. 2 retailer Soriana has recently announced that it has reduced its debt by 30% in last year from a year ago.

According to the statement issued by the company, which acquired debt to fund its 2007 acquirement of 200 stores from a rival, it has paid back 2.47 billion pesos from its long-term revolving debt program.

Earlier, the company has handed over 1.45 billion pesos in other down payments.

Till December last year, the company’s debt was 9.03 billion pesos ($709 million).

While talking to reporters, the company’s chief financial officer Aurelio Adan said, “Monterrey-based Soriana will resume its store openings this year by adding 40 new units to its network.”

About one-fourth of those opening will be a new, yet to be named store format aspired at small cities where Soriana will provide staples and drug store, bakery and tortilla-making services.