Lulu Group mulls growing its footprint in Punjab
Vijay C Roy
Chandigarh, September 18
The UAE-based retail main Lulu Group is considering to extend its funding in Punjab. Having already invested in a meat processing plant in Dera Bassi, the group is prone to spend money on agri worth chain and a mega mall in Punjab. The full funding within the state is prone to be Rs 1,200 crore.
Sources mentioned Rajya Sabha MP Vikramjit Singh met Yousuf Ali, chairman, Lulu Group, in New Delhi, not too long ago and pursued the group to extend funding within the state.
Vikramjit Singh confirmed the assembly and acknowledged that he had fruitful discussions with Yousuf Ali. He added that the state was all set to draw main funding in agri worth chain for preservation, storage and processing of agri-produce within the state. He mentioned Lulu Group could be investing in storage, grading and packaging of varied fruit and veggies particularly kinnow, candy orange, lime, litchi, guava, pear and peach for which land is being bought close to Mohali in Punjab.
“The full challenge shall be unfold over 25 acre. Out of the overall, 10 acre has already been acquired and the remaining 15 acre are in course of. The full funding is prone to be Rs 200 crore and could be operational by the second half of the subsequent yr,” he mentioned.
A mega chilly chain facility may even be developed by the group. The processed fruit and veggies could be retailed by way of group’s 236 hyper markets and buying malls in 22 international locations. He additional acknowledged that the group was additionally seeking to develop a mega shopping center along with a resort and a conference centre in Mohali with an funding of round Rs 1,000 crore. The proposed challenge will create an employment for 10,000 individuals.