Lulu Group invests Rs 200 Crore in J&K, to set up food processing, logistics center

Lulu Group invests Rs 200 Crore in J&K, to set up food processing, logistics center

Lulu Group will invest Rs 200 crore in Jammu and Kashmir to set up food processing center

UAE-based retail giant Lulu said on Thursday it will invest Rs 200 crore in Jammu & Kashmir (J&K) to set up a logistics and food processing hub.

Lulu Group has signed a memorandum of understanding (MoU) with the J&K government on the matter, 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 MA in the presence of J&K Governor Manoj Sinha during the Memorandum of Understanding signing ceremony held in Dubai on Thursday.

Memorandum of Understanding was signed by Ranjan Prakash Thakur, chief secretary (industry and commerce), Government of Jammu & Kashmir; and Ashraf Ali MA, chief executive officer of Lulu Group.

Manoj Sinha, who is on a three-day official visit to UAE, also opened ‘Kashmir Promotion Week’ at Lulu Hypermarket, Silicon Center Shopping Mall.

Mr Sinha called it a “historic agreement” and said trade between Jammu & Kashmir and Dubai remained stable and it reflected the resilience of deep economic links.

“The relationship between India and the UAE is a longstanding and profound one. People-to-people and trade exchanges have gained momentum in recent years under the leadership of Prime Minister Narendra Modi,” the governor said. know.

Last month, Lulu group announced an investment of Rs 2,000 crore near Ahmedabad to set up 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 establish 100% export-oriented food and agricultural processing park in Greater Noida in Uttar Pradesh.

In India, the Lulu group already has four shopping centers operating in Kochi, Thrissur, Trivandrum and Bengaluru.

Lulu Group currently has 220 hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia and Indonesia with a global workforce of more than 57,000 employees.


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