Noida, Greater Noida to get new malls, Lulu Group to invest Rs 2500 crore

Noida: Good news has emerged for the people of Noida. After Lucknow, Lulu Group will construct new malls in Noida and Greater Noida. The Noida Authority has entered into an agreement with the Lulu Group. The group will invest Rs 2500 crore into Noida. They have received the land in Greater Noida for this purpose.

Lulu Group, a food-processing giant, had asked for land from the Greater Noida Authority. The company had also met CEO Ritu Maheshwari. They had expressed their intention to make a world-class mall in India. Around 6,000 people will get direct job opportunities.

This is the second such investment by the Lulu Group in Greater Noida, reported Tricity. The company is also making a food park in Ecotech-10. This food park is being built at an investment of Rs 500 crore. The size of the food park is 20 acres.

1700 people will get jobs due to the food park. Farmers will be able to sell their produce to the food park at reasonable prices. The company will sell these products in the middle-east.

If the government and Noida Authority approves malls in Greater Noida and Noida, the Lulu Group's investment in the city will increase to Rs 4500 crore.

The UAE-based group has made a demand for 50,000 square metres of land in Noida and Greater Noida where they will build malls and supermarkets. They have demanded land along the Noida-Greater Noida Expressway.

The company has a net worth of 8 billion dollars.