LULU’S FORAY INTO TELANGANA
LULU Group, a leading retail chain in the Middle East, plans to invest Rs.2, 500 crore in Telangana next year.
M. A. Yusuf Ali, the Chairman of Abu Dhabi-based group, shared this information when a delegation led by Telangana Minister for Information and Technology, K. T. Rama Rao called on him in Dubai.
The LULU group is the largest retail chain in the Middle-East which has over 100 hypermarkets and a turnover of over USD 5 billion, an official statement said.
Ali is considered to be the wealthiest person of Indian-origin in the Gulf. The LULU group wishes to invest in three 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. It will seek assistance of the government in identifying suitable land for the three projects along with seek help in obtaining various approvals.