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Vijay C. Roy
Chandigarh, September 18
UAE-based retail giant Lulu Group is considering increasing investments in Punjab. The group has already invested in a meat processing plant in Dela Paz and is likely to invest in agricultural value chains and mega shopping malls in Punjab. The total investment in the state is likely to be Rs 120 crore.
Rajya Sabha MP Vikramjit Singh met Lulu Group chairman Yousuf Ali in New Delhi recently and asked the group to increase investment in the state, sources said.
Vikramjit Singh confirmed the meeting and said he had fruitful discussions with Yusuf Ali. He added that the state is ready to attract significant investment in the agricultural value chain to preserve, store and process agricultural products in the state. He said Lulu Group will invest in the storage, grading and packaging of various fruits and vegetables, especially kinno, sweet oranges, limes, lychees, guava, pears and peaches, and is buying land near Mohali in Punjab.
“The whole project will be on 25 acres. Of these, 10 acres have been acquired and the remaining 15 acres are under construction. The total investment may be Rs 200 crore and it will be operational in the second half of next year,” he said.
The group will also develop a large cold chain facility. The processed fruit and vegetables will be retailed through the group’s 236 hypermarkets and shopping centres in 22 countries. He further said that the group is also planning to develop a large shopping mall as well as a hotel and a convention centre in Mohali with an investment of around Rs 1,000 crore. The proposed project will create jobs for 10,000 people.
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