Lulu Group to invest Rs 200 cr in Noida

By: |
January 6, 2021 6:38 PM

The Abu Dhabi-based Lulu Group has announced its expansion plans in Uttar Pradesh, involving Rs 200 crore more investment at Greater Noida.

Last month, the group announced a Rs 60-crore investment in a food processing centre in Jammu & Kashmir from where it has been sourcing fruits, vegetables and dry fruits worth hundreds of crores.

The Abu Dhabi-based Lulu Group has announced its expansion plans in Uttar Pradesh, involving Rs 200 crore more investment at Greater Noida. The new investments will flow into the agriculture and information technology sectors in the state. For this, the UP government has allotted 20 acres in Greater Noida, where a modern agri-produce sourcing, processing and packaging and logistics centre will come up at an investment of Rs 200 crore. The Lulu Group has already invested around Rs 2,000 crore in the state to set up the biggest shopping mall in Lucknow.

“We will invest another Rs 200 crore to set up the new operations in Noida. This new facility will export a wide variety of fruits and vegetables to various countries, thus creating a bigger market for agri-produce from the North,” Group Chairman Yusuffali told PTI on Wednesday. The Lulu Group, founded by the richest NRI in the Gulf MA Yusuffali, runs 197 hypermarkets and supermarkets in the Middle East, Egypt and the Far East and sources fruits and vegetables and other processed food worth over Rs 3,500 crore annually from the country. This is expected to go up further with the Noida facility, he said.

Last month, the group announced a Rs 60-crore investment in a food processing centre in Jammu & Kashmir from where it has been sourcing fruits, vegetables and dry fruits worth hundreds of crores. “UP has become one of the most investor-friendly states, thanks to a government that is supportive of investor needs,” Yusuffali said.

“Our Lulu Mall in Lucknow, which is getting ready for opening shortly, will surely bring world-class shopping experience to the state capital, apart from generating over 20,000 jobs,” he added. The Lulu Group has also invested heavily in Ali’s home state Kerala, and runs the state’s largest mall in Kochi. Ali is the richest Keralite.

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