Lulu Group to invest Rs 200 crore in food and vegetable processing unit at Greater Noida
The Greater Noida Authority has allotted 20 industrial plots in January 2022, which will attract investment of Rs 430 crore and provide employment to 3,000.
The authority allotted 19 plots of 2,000 sq mtr. The UAE-based Lulu Group had acquired 20 acre industrial land at Greater Noida in Uttar Pradesh at Rs 75 crore to set up a food and vegetable processing unit.
The company will invest Rs 200 crore to set up the facility. The Lulu group will invest Rs 150 crore in the first phase and another Rs 50 crore in the second phase.
According to the Greater Noida Authority, 80,940 sq mtr plot has been allotted to Fair Exports India, which is owned by Lulu Group.
The authority is already in the process of auctioning more than two dozen commercial, industrial and institutional plots and expects to generate more than Rs 1,000 crore from the exercise.
Under the online industrial plot allotment open-ended scheme, the authority had 21 industrial plots ranging from 2,000 sq mtr to 80,940 sq mtr.