Lulu Group to invest Rs 60 crore in J&K to set up food processing centre

The Abu Dhabi-based LuLu Group on Thursday announced setting up of a food processing and logistics centre in Jammu & Kashmir.

The decision was announced after Group's Founder Chairman Yusuf Ali met a J&K delegation headed by its Principal Secretary (Agriculture) Navin Kumar Choudhary in Dubai on Thursday, the group said in a statement.

A group spokesperson told PTI from Abu Dhabi that had it not been for the lockdowns, their plan would have materialised already. Given the normalisaiton, now they hope to finalise the land for the project in the Jammu region by next February, the spokesperson added.

The group will invest around Rs 60 crore initially to set up a sorting centre and cold storage, which will be scaled up later, the spokesman said.

The project will generate direct employment for around 300 persons, the spokesperson added.

The group began importing apples and saffron from Kashmir last year and closed the year with 400 tonnes of imports worth Rs 25 crore, which will go up considerably with the new investment.

On average, the Lulu group imports over Rs 400 crore worth of farm produce and other food items from the country to stock up its over 190 hypermart chains spanning the Middle East markets.

In 2020, the group imported 38,330 tonnes of rice, pulses, tea, cashew nuts, meat and meat products, snacks and other eatables worth Rs 420 crore.

J&K has got immense potential in fruits, vegetables, pulses, spices, dry fruits and other agri produce, Ali said.

LuLu imported over 400 tonnes of Kashmiri apples between January and November this year, he said.

The group runs over 190 hypermarkets across the Gulf Cooperation Council and Far Eastern countries. It also has invested heavily in Ali's home state, Kerala, and runs largest mall in Kochi.