UAE-based Lulu Group mulls increasing its footprint in Punjab

Vijay C Roy

Chandigarh, September 18

The UAE-based retail major Lulu Group is contemplating to increase its investment in Punjab. Having already invested in a meat processing plant in Dera Bassi, the group is likely to invest in agri value chain and a mega mall in Punjab. The total investment in the state is likely to be Rs 1,200 crore.

Sources said Rajya Sabha MP Vikramjit Singh met Yousuf Ali, chairman, Lulu Group, in New Delhi, recently and pursued the group to increase investment in the state.

Vikramjit Singh confirmed the meeting and stated that he had fruitful discussions with Yousuf Ali. He added that the state was all set to attract major investment in agri value chain for preservation, storage and processing of agri-produce in the state. He said Lulu Group would be investing in storage, grading and packaging of various fruits and vegetables especially kinnow, sweet orange, lime, litchi, guava, pear and peach for which land is being purchased near Mohali in Punjab.

“The total project will be spread over 25 acre. Out of the total, 10 acre has already been acquired and the remaining 15 acre are in process. The total investment is likely to be Rs 200 crore and would be operational by the second half of the next year,” he said.

A mega cold chain facility will also be developed by the group. The processed fruits and vegetables would be retailed through group’s 236 hyper markets and shopping malls in 22 countries. He further stated that the group was also looking to develop a mega shopping mall together with a hotel and a convention centre in Mohali with an investment of around Rs 1,000 crore. The proposed project will create an employment for 10,000 people.