The Abu Dhabi based LULU group invest in Telangana, LULU group is 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 LULU group, said 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 $5 billion, an official statement said here.
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.