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Lulu Group to invest Rs 500 crores to set up food processing unit in Greater Noida

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The UAE-based retailer Lulu Group is planning to invest Rs 500 crore to set up a food processing unit in Greater Noida, Uttar Pradesh. The company is setting up a plant that will supply 100% export-oriented food and agro- produce processing park in Greater Noida, Uttar Pradesh an official statement highlighted.

At a formal event in Uttar Pradesh Chief Minister Yogi Adtiyanath’s Office, the land allotment order of 20 crores was handed over to Lulu Group Chairman Yusuffali MA by Narendra Bhosan, CEO, Industrial Development authority in the presence of Chief Minister and other top officials.   

The company will be procuring and exporting around 20,000 tons of local fruits and vegetables annually to its hypermarkets around the world from the new plant. This new facility will start operating within next 8 months with a turnover of 3000 crores, a statement highlighted. 

In a statement, Yusuffali MA said “We will be directly sourcing from the farmers of Uttar Pradesh, ensuring better revenue from farmers.”

The company operates 220 hypermarkets and shopping malls in the Middle East, Egypt, India, Malaysia and Indonesia with a workforce of over 57,000 employees. The company is also moving to complete its other project Lulu Group- Lucknow project worth 2,000 crores which will be inaugurated in the first week of April 2022.