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Lulu Group To Invest Rs 200 Crore In J&K, To Establish Food Processing, Logistics Center

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Lulu group will invest Rs 200 crore in Jammu and Kashmir to establish a food processing hubUAE-based retail significant Lulu group on Thursday stated it will invest Rs 200 crore in Jammu - & Kashmir (J&K) to set up a food processing and logistic hub.The Lulu group signed a memorandum of understanding (MoU) with the J&K federal government in this regard, the company said in a statement.The company will invest Rs 200 crore in the first phase.The announcement was made by Lulu Group Chairman Yusuff Ali M A in the existence of J&K Lieutenant Governor Manoj Sinha during the MoU signing event held in Dubai on Thursday.The MoU was signed by Ranjan Prakash Thakur, primary secretary (industries and commerce), Government of Jammu - & Kashmir; and Ashraf Ali MA, executive director of Lulu Group.Manoj Sinha, who is on a three-day official visit to the UAE, likewise inaugurated 'Kashmir Promotion Week' at Lulu Hypermarket, Silicon Central Mall.Mr Sinha called it as a historic agreement and said the trade in between Jammu - & Kashmir and Dubai has actually remained constant and it reflects the strength of the deep economic linkages.

Relations between India and the UAE are long-standing and deep-rooted.

People-to-people contact and trade have actually seen momentum in the current years under the management of Prime Minister Narendra Modi, the lieutenant guv said.Last month, the Lulu group announced an investment of Rs 2,000 crore near Ahmedabad to establish a modern shopping mall.It also announced an investment of Rs 500 crore to set up a food processing plant in Greater Noida, Uttar Pradesh.The company will set up 100 percent export-oriented food and agri-produce processing park in Greater Noida in Uttar Pradesh.In India, the Lulu group already has 4 operational shopping malls at Kochi, Thrissur, Trivandrum and Bengaluru.The Lulu group currently has 220 hypermarkets and mall in the Middle East, Egypt, India, Malaysia and Indonesia with an international labor force of over 57,000 workers.




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