Dubais Emke to invest R700 cr in Kerala IT, logistics

Written by M Sarita Varma | Bhubaneswar | Updated: Sep 6 2014, 06:35am hrs
After the Rs 1,200-crore Lulu mall in Kochi, Dubai-based Emke Group is set to roll out Rs 700-crore investments in IT and logistics infrastructure in Kerala this year. Emke Group, best known for its Lulu Hypermarket chain in GCC countries, had earlier announced Rs 3,000-crore urban infrastructure investment in three Kerala cities Thiruvananthapuram, Kochi and Kozhikode within three years.

Lulu Cybertower Phase II and the state-of-the-art logistics park will be the first set of Emke Group's Indian projects to take off, sources close to Emke Group managing director M A Yousef Ali, told FE.

The foundation stone laying ceremony for work on Phase II of Cybertower in Kochi will be done by Kerala CM Oommen Chandy this month. The logistics park in Aluva is almost complete. This will be inaugurated before December 2014, says the senior official.

Emkay Logistics, set up with an investment of Rs 300 crore, is to emerge the largest logistics park in South India. The 7-lakh-sq-ft built-up space in 27 acres will have the capacity to store 18,000 tonne of food products. This would have cold storage facility to stock 1,500 tonnes of fruits, vegetables and milk, giving a buoy to agro-industries and dairy business.

The Cybertower Phase II, built at Rs 400-crore investment, is envisaged to create 11,000 direct job pportunites. The construction of the 13 lakh sq ft built-up space with plug-and-play facilities, will take about 28 months, according to the firm's plan.