LULU Group To Invest 2500 Crore In Retail Chain In Telangana

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Hyderabad, December 17 (Telemedia) : The Chairman of Abu Dhabi based LULU group MA Yusuf Ali announced their plan to invest Rs 2500 crore in Telangana within the next 1 year. He shared this information when a delegation from Telangana Government represented by Minister for IT KT Rama Rao and Commissioner of Industries Jayesh Ranjan called on him. The LULU group is the largest retail chain in the Middle-East having over 100 hypermarkets and having a turnover of over $5 billion. Ali is considered to be the wealthiest person of Indian origin in the Gulf area. The LULU group wishes to invest in 3 projects in Telangana, a fruit and vegetable processing unit, an integrated meat processing unit and a modern shopping mall in Hyderabad. A team from the group will visit Hyderabad in the first half of January 2015 with detailed project reports and seek assistance of the government in identifying suitable lands for the 3 projects along with help in obtaining various approvals.

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