Lulu Group International, the Middle East-based retail company announced their latest project, an export-oriented food, and agriculture-produce processing park in Greater Noida, Uttar Pradesh.
Narendra Bhoosan, CEO, Greater Noida Industrial Development Authority, handed over the land allotment permit for 20 acres to Lulu Group chairman Yusuffali MA.
The State chief minister, Yogi Adityanath unveiled the prototype of the new facility, which is expected to start its operations in eight months.
The company also revealed that the project will have an initial investment of ₹500 crores. It is envisioned to create direct employment opportunities for 700 people and indirect employment for approximately 1500 people.
Yusuffali, chairman of the company also added that they will source directly from Uttar Pradesh farmers, providing better revenues for them.
According to a statement from Lulu Group, the firm would acquire and export an estimated 20,000 tons (annually) of local fruits and vegetables from the state for its hypermarkets across the world.
Meanwhile, the company stated that its upcoming Lulu Mall in Lucknow which will have the largest Lulu Hypermarket will be opening in the first week of April 2022.
The 22 lakh square feet shopping mall at Amar Shaheed Path will contain 220 national and international brands, a family entertainment center, a 3,000-capacity food court and restaurants, a PVR cinema with 11 screens, and a parking structure that has 3000 spaces including a separate parking building.
Due to the pandemic-related limitations, the project was pushed back a year. “But I’m upbeat about the current business scenario and the pro-development vision of Uttar Pradesh government,” he stated and is sure that the mall will be a landmark shopping and leisure destination in that part of India.
With a worldwide workforce of over 57,000 employees, the Lulu Group runs 220 hypermarkets and shopping malls across the Middle East, Egypt, India, Malaysia, and Indonesia.
In addition, the company plans to set up a food processing hub in Baroda and a logistics center in Surat, which will assist the exports. Last year, the Lulu Group, based in Abu Dhabi, had a $7.4 billion annual turnover.
From hypermarket operations, shopping mall development, product manufacture and trade, food processing plants, real estate development, and wholesale distribution, the group has a wide range of businesses.
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