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