Lulu Announced to Invest ₹500 Crore In Food Plant in Greater Noida

Lulu, the UAE-based retail company, announced setting up its export-oriented food and agriculture-produce processing park in Greater Noida, Uttar Pradesh, with an initial investment of Rs. 500 crore. 

At a formal function held at Uttar Pradesh Chief Minister Yogi Adityanath’s office in Lucknow, 20 acres of land was handed over to Yusuffali M A, Lulu Group Chairman, the company said in a statement. 

The Lulu group said, ━ “the 500 crores will be the initial investment in the setting of the state-of-the-art unit”. 

Yusuffali briefed the CM about various details of the idea of this world-class facility which will support the agriculture sector of the state. 

The plan is expected to generate direct and indirect employment for around 700 and 1,500 people, respectively. 

With this plan, the Lulu group will produce and export approximately 20,000 tons of local fruits and vegetables worldwide.

Yusuffali said the group would be direct sourcing from the UP farmers that will help to grow their revenue. 

Additionally, he also confirmed that Lulu Mall, an almost Rs. 2000 crore investment, the largest hypermarket, is in the final completion stage and will be inaugurated in the first week of April 2022. 

The Lulu Mall is a 22 lakh sq. ft. shopping mall at Amar Shaheed Path, Lucknow, with 200 national and international brands, a family entertainment center, a PVR cinema, a 3000 capacity food court, and a separate parking building with 3,000 capacity. 

“The project was expected to start in 2021 and was delayed due to COVID-19. “We had to delay the project by one year due to COVID-19, but I am upbeat about the current business scenario and the pro-development vision of the UP government, and I am sure this will be a landmark shopping and leisure destination in this part of India” ━ he added.