Lulu, UAE Sharaf Groups to Invest Rs 5,000 crore Each in Kerala

KOCHI:
Multinational conglomerate Lulu Group and the shipping and logistics major Sharaf Group, both based in the UAE, have announced their plans to invest in the state at the Invest Kerala Global Summit (IKGS 2025) here.

Abu Dhabi-headquartered LuLu will invest Rs 5,000 crore in food processing, retail, IT infrastructure and fintech, further expanding its footprint in the southern state.

Similarly, Dubai-based Sharaf Group is foraying into the state with the same amount of investment. It will spend Rs 5,000 crore to develop its hubs in two Kerala destinations.

Sharaf Group Vice-Chairman Major General (Rtd) Sharafuddin Sharaf, also the chairman of the UAE-India Business Council, said he had submitted a letter of interest to the state government at the IKGS 2025.

Tata Enterprises’ Artson Engineering and Malabar Cements, a state-run public sector undertaking, have signed a memorandum of understanding (MoU) to set up a facility in Kochi to manufacture vessels weighing less than 100 tonnes.

LuLu Group Executive Chairman MA Ashraf Ali announced a significant investment project: establishing a large-scale food processing facility and export unit on 20 acres in Kalamassery.

Through its refrigeration system, this location will transport goods, vegetables, and fruits sourced from Kerala and Tamil Nadu for export to Lulu’s worldwide retail chain. A state-of-the-art food processing facility will also be established here.

Besides, the group is targeting to invest in IT infrastructure and the fintech sector in the state government’s proposed Global City project. The twin IT building complex in Kakkanad will also start operations soon.

In the retail sector, Lulu outlets will be launched in Perinthalmanna, Tirur, Kannur and Kasaragod. The new investment projects will create 15,000 jobs in the state. He added that the twin IT towers can accommodate 25,000 employees.

Malabar Cements leased seven acres of land at the Kochi Port Trust for development projects, but no activities have taken place there for the last eight years.

A large amount is paid as lease money every year. Malabar Cements MD Chandrabose J said they decided to enter the deal with Tata-Artson by taking advantage of this opportunity at the IKGS 2025.

Shashank Jha, CEO of Artson Engineering, pointed out that shipbuilding is the most promising and profitable sector in the country today. “If you invest one rupee, you will get eight rupees back,” he said.

The Gati Shakti project, announced by Prime Minister Narendra Modi, has vast potential for inland waterway transport. As a result, the demand for small vessels will increase.

Jha said Artson intends to use this potential. The shipbuilding centre will be set up on the existing land. Once the manufacturing centre is fully operational, more than 300 jobs will be created.

Meanwhile, a consortium of real estate business announced plans to pool land and build a city complex on 300 acres adjacent to the proposed GIFT City in Ayyampuzha, near Nedumbassery.

Preliminary discussions have been held with the landowners, and a letter of interest has been submitted to the government. The group’s representatives announced that an investment of Rs 5,000 crore is expected in this area.