Lulu Group investing Rs.500 Crore to set up food processing plant in Greater Noida
The Middle East Retail and Food Processing Company Lulu Group will set up a food processing plant in Greater Noida, UP with an investment of Rs.500 crore. The plant will be hundred percent export oriented food and agro produce processing park and employment is likely to be generated for about 1500 people indirectly and 700 people directly. At a formal event organized at UP CM Yogi Adityanath’s office the land allotment for over 20 acres was handed to the Lulu Group Chairman Yusuf Ali by Mr.Narendra Bhushan , CEO Greater Noida Industrial Development Authority at a gathering attended by many senior officials.
The company will be procuring and exporting around 20,000 tonnes of local fruits and vegetables annually to hypermarkets around the world. The facility is expected to start operations in 8 months with a turnover of Rs. 3000 crore. The produce will be directly sourced from the farmers of UP and in turn generate good revenues for them. The company operates 220 hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia and Indonesia with a global workforce of over 57,000 employees. The Lulu Mall at Lucknow is also in the final stage of completion slated for inauguration in the first week of April,2022.
Earlier this month, the Lulu Group announced an investment of Rs. 2000 crore near Ahmedabad to set up a modern shopping mall. The construction is expected to begin in the first quarter of 2022 and be completed within 30 months. The Group has committed Rs.4,500 crores for the construction of five shopping malls in India. Their three malls have already become operational at Kochi, Thrissur and Bengaluru. The Lulu Group has a business portfolio ranging from Hypermarkets to shopping malls, manufacturing and trading of goods, food processing plants, wholesale distribution, hospitality assets and real estate development.
Noida is all set to have a world class food processing unit with state of the art technologies which will give a much needed boost to the agro industry in the state.
Lucknow city is all set for a revamp with a 22 lakh square feet Amar Shaheed Path which will have 220 National and International brands, a family entertainment center, 3000 capacity food court and restaurants, an 11 screen PVR Cinemas with a total parking capacity of 3000 including a separate parking building. The construction work got delayed one year due to Covid. This Landmark Project will provide employment to thousands of people and generate vistas for entrepreneurs.