LULU Group to invest Rs 2,500 crore in Telangana : MA Yusuf - TopicsExpress

LULU Group to invest Rs 2,500 crore in Telangana : MA Yusuf Ali, the Chairman of Abu Dhabi based LULU group, announced their plan to invest Rs 2,500 crore in Telangana within the next one year. He shared this information when a delegation from Telangana Government represented by Information Technology Minister K Tarakarama 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. Yusuf Ali is considered to be the wealthiest person of Indian origin in the Gulf area. 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 and seek assistance of the government in identifying suitable lands for the 3 projects along with help in obtaining various approvals. (INN)

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