Mumbai/Dubai: Abu Dhabi-based LuLu Group has said it will set up a food processing and logistics centre in Jammu and Kashmir.
The group is expected to initially invest around ₹60 crore to set up a sorting centre and cold storage.
The decision to set up the unit was announced after Lulu group chairman Yusuf Ali met a delegation headed by Jammu and Kashmir principal secretary for agriculture Navin Kumar Choudhary in Dubai on Thursday, the group said in a statement.
Lulu group had began importing apples and saffron from Kashmir last year and had closed 2019 with 400 tonnes of imports valued at ₹25 crore.
On an average, the group imports more than ₹400 crore worth of farm produce and other food items from India to stock up more than 190 hypermarts in Gulf markets.
Lulu group has also invested heavily in Yusuf Ali’s home state of Kerala, and runs the largest mall in Kochi.