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Lure Holdings eyes $2.5 billion in annual branded realty projects in India

The US-based platform will partner with Indian developers through Ciril to curate branded projects, initially targeting eight markets with access to over 300 global brands

Lure Holdings eyes $2.5 billion in annual branded realty projects in India

The Solvent Extractors’ Association of India (SEA) and the Government of Nampula Province in northern Mozambique have collaborated to establish a sustainable oilseed and vegetable oil corridor between Nampula and the Indian market. This partnership, signed during Globoil India 2026 in Mumbai, was facilitated by two sustainability organizations, Solidaridad Network Asia and Solidaridad Southern Africa, to ensure fair terms for farmers and forest conservation.

Nampula, one of Mozambique’s most populous and fertile provinces, has untapped arable land ideal for oilseed crops such as groundnut, soybean, sesame, and native oil palm. The province’s strategic location along the Nacala Development Corridor, which connects to the deep-water Port of Nacala on the Indian Ocean, offers a shorter sea route to India compared to imports from South America.

India and Mozambique already engage in trade of pulses, providing a foundation for future oilseed trade. The 'Statement of Interest' initiates a three-year exploratory phase, during which partners will assess the potential and develop a detailed plan for oilseed cultivation, extraction, and refining in Mozambique. Investment and sourcing will be governed by separate agreements in accordance with Mozambican law, allowing SEA member companies to choose their involvement independently.

Data on land, agroecological zones, water, and infrastructure will be shared by Nampula Province, along with procedures for land use rights, investment approval, and environmental licensing. SEA will provide insights into India’s long-term needs regarding oilseeds, crude and refined oils, and oilmeal, including quality standards and storage, extraction, and refining techniques.

Solidaridad Southern Africa and Solidaridad Asia will guide the partnership on land rights, soil and water management, forest protection, community consultation, and smallholder organization. They will also address Indian buyers, consumers, and regulators’ sustainability, traceability, and due diligence expectations. The studies will determine the feasibility of the project, including land suitability, social, environmental, market, and cost analyses, as well as road, rail, storage, and port capacity.

Each party assumes its own expenses, and funding for the studies will be sought jointly from development partners and financial institutions. Nampula Province's Governor, Eduardo Mariamo Abdula, expressed enthusiasm for the partnership, inviting SEA members to invest, buy from local farmers, and employ the province’s youth. Similarly, SEA President Angshu Mallick emphasized India’s dependency on a limited number of countries for edible oil and highlighted Africa as a promising alternative source.

BV Mehta, Executive Director of SEA, stressed the importance of consistent volumes, quality, and competitive landed costs for Indian industry.

Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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