Lulu Group Announces Rs 3500 Crore Investment in Telangana, Unveils Ambitious Expansion Plans

Lulu Group, a multinational retailer based in the UAE, has announced its entry into the Indian state of Telangana with a massive investment of Rs 3500 crore over the next five years. The decision follows the signing of a Memorandum of Understanding (MoU) between the Lulu Group and the Telangana government at Davos last year. The investment will be utilized to establish a mall, a logistic hub, and food processing units in the state.

A new mall in Hyderabad and a destination mall will be constructed, amounting to an investment of Rs 3500 crore. Furthermore, Lulu Group intends to set up a 100 percent export-oriented food processing unit exclusively sourcing Telangana's fruits, vegetables, millets, pulses, and spices for international markets. The retail operation will include opening a Lulu shopping mall and hypermarket in Hyderabad, creating employment opportunities for 2000 individuals.

As part of the investment, Lulu Group will allocate Rs 200 crore towards an export-oriented meat processing plant with a daily production capacity of 60 tonnes. This facility in Chengicherla is expected to employ over 2,500 personnel and commence operations within the next 18 months.

Lulu Group's first shopping mall and hypermarket in Telangana will be established by rebranding and revitalizing the former Manjeera Mall, covering an extensive area of 5 lakh sq feet. The company aims to offer an international shopping experience to customers. Lulu Group is expanding its presence in India with existing locations in Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore.

The collaboration between Lulu Group and Telangana holds promising prospects for the state's economic growth, creating employment opportunities and boosting its position as a commercial hub.

For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.