Rs. 3,500 Crore Investment by Lulu Group Marks Significant Development for Telangana
Telangana witnesses a remarkable development as the UAE-based Lulu Group announces a substantial investment of Rs. 3,500 crore in the state. Lulu Group, a prominent organization known for its expertise in the retail sector, aims to focus on enhancing the food processing, logistics, and retail industries in the region. The official announcement was made by MA Yusuff Ali, Chairman and Managing Director of Lulu Group, during an event attended by Industries Minister KT Rama Rao.
In support of this ambitious endeavor, the State government has already allocated land for the construction of an advanced export processing plant. This facility will specialize in processing a wide range of fruits, vegetables, cereals, pulses, and herbs, thereby adding significant value to the agricultural sector and boosting exports in the state.
During the event, Yusuff Ali expressed his admiration for the enlightening presentation given by K T Rama Rao, highlighting Telangana’s remarkable achievements in paddy production, fishery, dairy, and meat production.
The partnership between Lulu Group and the Telangana government was cemented through a memorandum of understanding signed during the prestigious World Economic Forum in Davos last year. This collaboration reflects the shared commitment to fostering a favorable business environment and driving economic progress in the state.
