LuLu plans Rs 3,500-cr investment in TS over 3 years

Hyderabad : LuLu Group International launched its first hypermarket and the biggest mall at Kukatpally in Hyderabad on Wednesday. Telangana IT and Industries Minister KT Rama Rao inaugurated the mall and UAE Consul General Aaref Al Nuaimi opened LuLu Hypermarket in the presence of Yusuff Ali MA, Chairman of Lulu Group, and others. This is the first venture of the Lulu Group in Telangana.

On the occasion, Yusuff Ali said: “We are planning multiple investments in the State. Our second project will be an export-oriented state-of-the-art food processing facility, including the meat processing centre in Hyderabad, and we will also be planning a seafood procurement and processing centre to support the local fishing industry. We are committed to invest Rs 3,500 crore in Telangana over next three years”. He further said: “With this investment, a destination shopping mall, mini malls, and agricultural sourcing hubs will be set up to facilitate 100 percent exports and promote local products across India and overseas. We had made many rounds of fruitful discussions with the government of Telangana, and the speed with which they approved the project is commendable”.

In his inaugural speech, KT Rama Rao said: ‘‘LuLu can use the launch in Telangana as a stepping stone for many good things. We will show them more opportunities, and the government assures all support for the LuLu Group. I would also like to thank Yusuff Ali for his generosity, kindness, and initiative.’’