Middle East retail and food processing major LULU Group plans to set up a 100% export-oriented food and agri produce processing park in Greater Noida with a total investment of Rs 500 cr.
The land allotment order for 20 acres was handed over to Lulu Group Chairman Yusuffali MA by Narendra Bhoosan, CEO Greater Noida Industrial Development Authority in the presence of CM Yogi Adityanath, Lulu Group ED Ashraf Ali MA and other top officials.
Lulu group will be procuring and exporting around 20,000 tons of local fruits and vegetables annually to their hypermarkets around the world from the new plant. Yogi Adityanath unveiled the prototype of the proposed facility which is expected to start operations in 8 months with a turnover of Rs. 3,000 cr.
“We will be directly sourcing from the farmers of Uttar Pradesh, ensuring better revenues for the farmers” added Yusuffali.
The Dubai-based firm is currently in the final stage of completing its Rs. 2,000 cr. Lulu Mall with the largest hypermarket, expected to be operation in April 2022.
The 22 lakh sq. ft. shopping mall at Amar Shaheed Path will have 220 national and international brands, family entertainment centre, food court and restaurants.
“We had to delay the project by 1 year due to the COVID related challenges, but I am very upbeat about the current business scenario and the pro-development vision of UP govt. and I am sure this will be a landmark shopping & leisure destination in this part of India. Once completed the Lulu Mall will employ more than 5,000 directly while another 10,000 people will get indirect employment” said Yusuffali MA.
Lulu Group currently has 220 hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia and Indonesia with a global workforce of over 57,000 employees.