UAE based leading retail conglomerate Lulu Group announced major investments in food sector at Gulfood 2022, which is being held in Dubai World Trade Centre. The group chairman Yusuffali MA, revealed that Lulu will invest INR 4 billion for setting up a state of the art food park in Kalalmassery in Kerala.
The project is expected to be operational by fourth quarter of 2023. The latest investment is over and above the recent INR 11 bn investment announced for Noida, Srinagar and Kochi, bringing total value to Rs15 billion investment in food processing by the group. Meanwhile, Lulu has imported the first consignment of Indian eggs, which was banned for the last 15 years in UAE. The group has imported four containers of Indian eggs, after the ban was lifted recently.
In December, the Lulu group announced an investment of INR 2,000 crore near Ahmedabad to set up a modern shopping mall. It has also announced an investment of INR 500 crore to set up a food processing plant in Greater Noida, Uttar Pradesh. In India, the Lulu group already has four operational shopping malls at Kochi, Thrissur, Trivandrum and Bengaluru.
Lulu also unveiled and launched its new private label brand ‘Goodness Forever’ during the Gulfood 2022. Under this brand Lulu will manufacture and sell a large range of premium speciality products such as organic, free from range, sugar free and similar healthy food products. These products are being manufactured exclusively for Lulu by leading food companies in Italy, Spain and UK.
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