Lulu Group invests Rs 60 cr in J&Okay to put in a meals processing middle – Each day Excelsior


MUMBAI: Abu Dhabi-based LuLu Group introduced on Thursday the institution of a meals processing and logistics middle in Jammu and Kashmir.
The transfer was introduced after the group's founding chairman, Yusuf Ali, on Thursday met with a J&Okay delegation headed by its senior secretary (Agriculture) Navin Kumar Choudhary in Dubai, the group stated in a press release.
A spokesperson for the Abu Dhabi group who had it not been for lockdowns, his plan is alleged to have already come to fruition. In view of the standardization, they now hope to finalize the land for the mission within the Jammu area by subsequent February, the spokesperson added.
The group will initially make investments round Rs 60 crore to arrange a sorting middle and chilly room, which will likely be expanded later, the spokesperson stated.
The mission will generate direct jobs for round 300 folks, the spokesperson added.
The group began importing apples and saffron from Kashmir final yr and ended the yr with 400 tonnes of imports price Rs 25 crore, which can improve dramatically with the brand new funding.
On common, the Lulu group imports greater than Rs 400 crore of agricultural merchandise and different meals merchandise from the nation to produce its greater than 190 hypermart chains overlaying the markets of the Center East.
In 2020, the group imported 38,330 tons of rice, pulses, tea, cashews, meat and meat merchandise, snacks and different edible merchandise price Rs 420 crore.
J&Okay has immense potential in fruits, greens, legumes, spices, dried fruits and different agricultural merchandise, Ali stated.
LuLu imported greater than 400 tonnes of apples from Kashmir between January and November this yr, he stated.
The group operates greater than 190 hypermarkets throughout the Gulf Cooperation Council and the Far East international locations. It has additionally invested closely in Ali's house state of Kerala and operates the biggest shopping center in Kochi. (AGENCY).

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