Lulu Group, led by prominent industrialist M.A. Yusuffali, has announced more investment plans in Kerala. It will invest Rs 5,000 crore in 4-5 years. It will set up a food processing center in the Kalamassery Food Processing Zone.This is an initiative to process agricultural resources, including from Kerala, and export them to Lulu’s global hypermarkets. Lulu Group Executive Director M.A. Ashraf Ali told the media at the Invest Kerala Investors’ Meet in Kochi that the project will provide employment to 15,000 people when it is ready.
A food processing zone will be set up in Kalamassery on 20 acres. In addition to Kerala, fruits and vegetables from Tamil Nadu will be brought here, processed and exported as value-added products.
Lulu Group will also invest in IT and Fintech sectors in the Global City envisioned by the state government in Kochi. Details will be announced soon. The twin IT towers being built by Lulu Group in Kochi Smart City will be inaugurated within three months. This will provide employment opportunities to 25,000 people.
Lulu’s current IT projects at Infopark will also see further investment. Major expansion plans are also being planned in the retail sector in Kerala. In addition to Tirur and Perinthalmanna, Lulu’s mini malls will also come up in Kasaragod, Kannur and Thrissur.
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