Lulu Group, located in the Middle East, announced on Wednesday the establishment of an export-oriented food and agriculture-produce processing park in Greater Noida, Uttar Pradesh, with an initial investment of Rs.500 crore.
Narendra Bhoosan, CEO of Greater Noida Industrial Development Authority, handed over the land allotment order for 20 acres of land to Lulu Group chairman Yusuffali MA on Wednesday.
Lulu Food Park:
According to the corporation, Lulu Group would acquire and export an estimated 20,000 tonnes (year) of local fruits and vegetables from the state for the company's hypermarkets across the world.
Yogi Adityanath, the state chief minister, unveiled the prototype of the new facility, which is expected to commence operations in eight months.
"We will be sourcing directly from Uttar Pradesh farmers, assuring higher income for the farmers," Yusuffali added.
The park is being developed with a 500 crore initial investment, and it is intended to provide direct employment for 700 people and indirect employment for around 1,500 people.
About Lulu Group:
Lulu Group employs about 57,000 people worldwide and manages 220 hypermarkets and shopping malls throughout the Middle East, Egypt, India, Malaysia, and Indonesia.
The 22 lakh square feet shopping mall on Amar Shaheed Path will feature 220 national and international brands, a family entertainment center, a 3,000-seat food court and restaurants, an 11-screen PVR cinema, and a separate parking building.
Meanwhile, the business's forthcoming Lulu Mall in Lucknow, which will contain the largest Lulu hypermarket, will be inaugurated in the first week of April 2022, according to the company.
Apart from an 11-screen PVR Cinema, the 2,000-crore shopping mall will have 220 national and international brands.
"We had to delay the project by one year due to COVID-19-related challenges," he stated. "However, I am optimistic about the current business scenario and the UP government's pro-development vision, and I am confident that this will be a landmark shopping and leisure destination in this part of India."
In India, the Lulu group already has four operational shopping malls at Kochi, Thrissur, Trivandrum and Bengaluru.
