Abu Dhabi-based LuLu Group introduced on Thursday the institution of a meals processing and logistics heart in Jammu and Kashmir.
The transfer was introduced after the group's founding chairman, Yusuf Ali, on Thursday met with a delegation from J&Ok led by its principal secretary (Agriculture) Navin Kumar Choudhary in Dubai, the group stated in an announcement.
A spokesperson for the group instructed the Abu Dhabi PTI that with out the lockdowns their plan would have already come to fruition. Given the standardization, they now hope to finalize the land for the venture within the Jammu area by subsequent February, the spokesperson added.
The group will initially make investments round Rs 60 crore to arrange a sorting heart and chilly room, which will probably be expanded later, the spokesperson stated.
The venture will generate direct jobs for round 300 individuals, 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 considerably 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 provide its greater than 190 hypermart chains protecting the markets of the Center East.
In 2020, the group imported 38,330 tons of rice, legumes, tea, cashews, meat and meat merchandise, snacks and different edible merchandise price Rs 420 crore.
J&Ok has immense potential in fruits, greens, legumes, spices, dried fruits and different agricultural merchandise, Ali stated.
LuLu imported over 400 tonnes of apples from Kashmir between January and November of this yr, he stated.
The group operates greater than 190 hypermarkets throughout the Gulf Cooperation Council and the Far East nations. He has additionally invested closely in Ali's house state, Kerala, and operates the most important shopping center in Kochi.