Lulu Group to invest Rs 2,500 cr in Telangana

Lulu Group, promoted by Yusuffali MA, has signed three MoUs with the Telangana government, to develop retail and food processing industry in the state. The agreement was signed during the UAE visit of Telangana Industries Minister K T Rama Rao to Lulu group Head Office in Abu Dhabi.

Under the MoUs, Lulu will invest an amount of USD 400 million (Rs 2,500 crore) to construct 1.8 million sq ft area of mega shopping mall, set up food processing plant and a logistics and export processing unit for fruit and vegetables.  The foundation stone of the shopping mall will be laid within next three months by the Telangana Chief Minister K Chandrasekhar Rao. The project will give  employment to approximately 6,000 people.

“Telangana being the newest state offers great potential for expansions and the kind of support and cooperation we have been receiving from the government has been very encouraging. We will begin the work within three months as the Telangana government has already initiated the process to hand over the land to us,” said Yusuffali, Chairman, Lulu Group.

“We have always wanted world-class facilities for our state, especially in the retail and food sector. Being a leader in these sectors, Lulu Group is our natural choice and we have extended our fullest support and look forward to working with them in many more projects in the future,” said KT Rama Rao.