Greater Noida Allots Land for Food Processing Plot to Lulu Group
Middle East-based retail company Lulu Group on Wednesday announced the setting-up of its export-oriented food and agriculture-produce processing park in Greater Noida, Uttar Pradesh, planned with an initial investment of ?500 crore. The land allotment order for 20 acres of land was handed over to Lulu Group chairman Yusuffali MA by Narendra Bhoosan, CEO, Greater Noida Industrial Development Authority. Lulu Group will procure and export an estimated 20,000 tons (annually) of local fruits and vegetables from the state for the company’s hypermarkets around the world, the company said in a statement. State chief minister Yogi Adityanath unveiled the prototype of the proposed facility which is expected to commence operations in eight months. “We will be directly sourcing from the farmers of Uttar Pradesh, ensuring better revenues for the farmers" Yusuffali said. The park is planned with an initial investment of ?500 crore; it is expected to generate direct employment for 700 people and indirect employment for approximately 1,500 people. Lulu Group operates 220 hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia and Indonesia with a global workforce of over 57,000 employees. Meanwhile, the company’s upcoming Lulu Mall in Lucknow—that will house the largest Lulu hypermarket—will be inaugurated in the first week of April 2022, the company said. The ?2,000 crore shopping mall will have 220 national and international brands apart from an 11 screen PVR Cinema. The project was delayed by a year due to the pandemic linked restrictions.
Tags : Realty Spotlight Investment Greater Noida shopping malls Land GNIDA Hypermarkets Lulu Group