Abu Dhabi-based Lulu group to invest Rs. 2,500 crore in Telangana.

The Abu Dhabi-based Lulu group will invest Rs. 2,500 crore in Telangana in the next one year. M A Yusuf Ali, the Kerala-born Chairman of the group that runs the Lulu retail chain, has made this assurance to a delegation from Telangana, led by its IT and Panchayat Raj Minister K T Rama Rao.

The group intends to set up a fruit and vegetable processing unit, an integrated meat processing unit, and a shopping mall in Hyderabad. The group runs over 100 hypermarkets in the Gulf region with a turnover of $5 billion.

The group will send a delegation in the first half of 2015 to prepare a detailed report for the proposed projects, a Government statement said recently.



HBL