LuLu GROUP TO SET UP MEGA SHOP­PING MALL AND FOOD PRO­CESS­ING PLANT IN TE­LAN­GANA

Shopping Center News - - NEWSMAKER NATIONAL -

LuLu Group In­ter­na­tional, with in­vest­ments in re­tail, hos­pi­tal­ity and food pro­cess­ing sec­tors, has de­cided to set up a fa­cil­ity in Te­lan­gana for de­vel­op­ing the re­tail as well as the food pro­cess­ing in­dus­try there. It has signed a mem­o­ran­dum of un­der­stand­ing (MoU) with the State govern­ment in this di­rec­tion, as re­ported by The Hindu. Ac­cord­ing to the MoU, the com­pany will in­vest ap­prox­i­mately `2,500 crore to con­struct a 1.8 mil­lion sq.ft. mega-shop­ping mall, food pro­cess­ing plant, and lo­gis­tics and ex­ports pro­cess­ing unit for fruits and veg­eta­bles.

The agree­ment was signed dur­ing the visit of the high-level del­e­ga­tion led by In­dus­tries and IT Minister KT Rama Rao to the com­pany’s head­quar­ters in Abu Dhabi. LuLu Group chair­man, Yusuff Ali said the com­pany signed the MoU as part of its ex­pan­sion plans in In­dia. Te­lan­gana, be­ing the new­est state, of­fered the po­ten­tial for ex­pan­sion and the govern­ment’s sup­port and co­op­er­a­tion in this di­rec­tion was very en­cour­ag­ing, he said. The com­pany plans to be­gin work in three months as the State govern­ment has al­ready ini­ti­ated the process to hand over the re­quired land. Rama Rao said the govern­ment was work­ing to­wards en­sur­ing in­vest­ments in world-class fa­cil­i­ties in the State, es­pe­cially in re­tail and food sec­tor.

“We are look­ing for­ward to work­ing with them on many more projects in fu­ture,” he added.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.