An Indian Emirati-based multinational conglomerate company, Lulu Group will be investing Rs 10,000 crore in India on various ongoing projects over the next three years.
Yusuff Ali also said the Lulu Group has committed about Rs 3,500 crore in investments in Telangana in the next five years.
“We have got an investment of more than Rs 20,000 crore in different areas including shopping malls, hotels, and food processing units (in India). We will increase this,” Yusuff Ali said.
“We have started the construction of a shopping mall in Ahmedabad. And also another one in Chennai we are coming up. A food processing plant is coming up in Noida and another one is in Telangana. It is Rs 10,000 crore investments in the next three years,” Yusuff Ali added.
The company aims to provide employment to 50,000 people in India and so far his various enterprises have given over 22,000 jobs.
Recently, the group has further strengthened its presence in South India with the grand opening of its world-class hypermarket in Coimbatore. It is billed as the biggest hypermarket in Tamil Nadu, with an amazing shopping experience. Tamil Nadu Industries Minister TRB Raja inaugurated the hypermarket in the presence of Lulu Group Chairman MA Yusuff Ali and other dignitaries.
“Offering Lulu’s services in Tamil Nadu makes us very happy. The residents and visitors of Coimbatore now have access to a world-class retail environment with cutting-edge amenities. An international logistics hub for the export of food products, including a rice mill in Thanjavur, is also being planned.”
Both directly and indirectly, 5000 people will get employment, and more local youths will be employed in our establishments, Lulu Group Chairman MA Yusuff Ali said at the opening ceremony.
The new hypermarket is the direct result of the MoU signed with the Tamil Nadu government following the earlier meeting of Tamil Nadu Chief Minister MK Stalin with Lulu Group Chairman MA Yusuff Ali in Abu Dhabi.
International logistics centres and food processing units are also planned at multiple regions in the state for the export of agricultural and food products.
Also present on the occasion were Ashraf Ali MA, Lulu Executive Director, Anand Ram AV, Lulu India and Oman Director, Saifee Rupawala, CEO, Rejith Radhakrishnan Nair, Lulu India COO, and other top officials
