Lulu Group To Invest Over Rs 3,500 Cr In Telangana
The UAE-based LuLu Group has on Monday announced investments worth Rs 3,500 crore in food processing, logistics and retail outlets in Telangana. A state of the art logistics hub and export processing plant for processing fruits, vegetables, millers, pulses and spices is being set up at Shamshabad airport, for which land has already been allotted by the State government. This apart, an export oriented modern integrated meat processing plant is being set up by the group at Chengicherla with an investment of Rs 200 crore and with a capacity of 60 tonnes per day. Commercial operations will commence at the plant in the next 18 months. The LuLu Group had signed a Memorandum of Understanding with the Telangana government at the World Economic Forum at Davos last year. Sharing more details, LuLu Group Chairman and Managing Director MA Yusuff Ali said the first project was part of the Rs 500 crore investment that LuLu Group had committed to the Telangana government. Under this initiative, a 5 lakh square feet mall, earlier known as Manjeera Mall, Kukatpally has been re-branded as LuLu Mall and is ready for inauguration in the last week of August or by the first week of September. It is being set up with Rs 300 crore and would provide employment to 2,000 people. The Mall will host a mega LuLu Hypermarket, spread over 2 lakh square feet. There would be a five-screen cinema with a seating capacity of 1400, multi-cuisine food courts, children entertainment centre etc. In addition to the LuLu Mall, three more malls were being proposed by the Group. This includes a Destination Shopping Mall with Rs.2,000 crore in Hyderabad and mini malls on the city outskirts and other major cities and towns in the State. Land would be identified for these malls in a couple of months and from there, it would take 18 to 24 months or the launch.
Tags : UAE LuLu Group announced investments food processing logistics retail outlets Telangana State Government Memorandum of Understanding LuLu Group Chairman and Managing Director MA Yusuff Ali World Economic Forum at Davos