UAE-based conglomerate Lulu Group which owns a large chain of supermarkets in the Middle East inaugurated its modern packaging centre at Katunayake yesterday.
The company hopes to purchase Sri Lanka fruit, vegetables and other commodities from all over Sri Lanka process them in Katunayake packaging centre and export the stuff to the Middle East. The total investment for the first stage of the project is US $ 8 million which will create over 100 direct employment opportunities and over 5,000 indirect jobs.
Lulu Group has also incorporated Y.A.S. Lanka Pvt. Ltd., a Board of Investment (BOI) company at the Export Processing Zone at Katunayake for this operation. Lulu retail sector comprises of 133 hypermarkets, supermarkets and department stores and its global presence spans the Middle East, Egypt, India, Indonesia, Malaysia and the Far East.
“We hope to purchase over US$ 25 million Sri Lankan commodities annually to process and re export not only to the Gulf but to other countries as well,” an official said.
0 comments: