The Indian Lulu Group has announced plans to establish cold storage facilities in Egypt to support export operations to global markets. This initiative aligns with the company’s strategy to expand its investments and strengthen its presence in the Egyptian market.
Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, met with a delegation from Lulu International Group to discuss Egypt’s economic policies and available investment opportunities.
The minister emphasized Egypt’s commitment to welcoming Indian investments and providing an attractive business environment. He highlighted the government’s ongoing efforts to improve the business climate and streamline procedures for investors.
El-Khatib also stressed that the partnership between Egypt and India presents a promising opportunity to enhance cooperation in trade, industry, and logistics.
He underscored Egypt’s strategic location as a key gateway to African and European markets. Additionally, he outlined the government’s economic reforms aimed at improving the business environment and creating lucrative investment opportunities.
The minister reaffirmed the state’s commitment to facilitating new projects, fostering economic growth, and generating job opportunities.
From Lulu Group’s side, Najmuddin Ibrahim Kuti, CEO of Fair Exports (India) Pvt Ltd, a subsidiary of Lulu Group, expressed the company’s interest in expanding its investments in Egypt.
He noted that Lulu Group already operates nine branches of Lulu Hypermarket in Egypt and plans to open more locations to strengthen its presence in the local market.
Kuti also revealed the group’s plan to establish cold storage facilities to support Egypt’s export operations to global markets.
This initiative is expected to enhance Egypt’s export capabilities and create new opportunities for Egyptian products in international markets.
Rakesh Ravi, Commercial Director of Lulu International Group, highlighted Egypt’s strategic importance as a hub for expanding consumer goods trade.
He explained that Fair Exports specializes in exporting meat and food products, including spices, fresh fruits, and vegetables. This specialization opens new avenues for trade cooperation between Egypt and India, further boosting Egypt’s competitiveness in global markets.