Lulu Group announces investments worth Rs 3,500 crore in Telangana
A state of the art logistics hub and export processing plant for processing fruits, vegetables, millers, pulses and spices is being set up at Shamshabad airport
Hyderabad: The UAE-based LuLu Group has on Monday announced investments worth Rs 3,500 crore in food processing, logistics and retail outlets in Telangana.
A state of the art logistics hub and export processing plant for processing fruits, vegetables, millers, pulses and spices is being set up at Shamshabad airport, for which land has already been allotted by the State government.
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This was declared by LuLu Group Chairman and Managing Director MA Yusuff Ali here on Monday in the presence of Industries Minister KT Rama Rao.
When Rama Rao explained about Telangana’s achievements in paddy production, fish, dairy and meat production, Yusuff Ali immediately announced that he would set up a fish processing unit, procure rice from Telangana and establish a meat processing plant as well.
“I am impressed with Telangana’s achievements. We have a state of the art fish processing plant at Kochi. A similar plant will be set up in Telangana. The moment the Telangana government allocates land, we will start the work immediately,” Yusuff Ali said.
This apart, an export oriented modern integrated meat processing plant is being set up by the group at Chengicherla with an investment of Rs 200 crore and with a capacity of 60 tonnes per day. Commercial operations will commence at the plant in the next 18 months.
The LuLu Group had signed a Memorandum of Understanding with the Telangana government at the World Economic Forum at Davos last year.
Sharing more details, Yusuff Ali said the first project was part of the Rs 500 crore investment that LuLu Group had committed to the Telangana government. Under this initiative, a 5 lakh square feet mall, earlier known as Manjeera Mall, Kukatpally has been re-branded as LuLu Mall and is ready for inauguration in the last week of August or by the first week of September, he said.
It is being set up with Rs 300 crore and would provide employment to 2,000 people. The Mall will host a mega LuLu Hypermarket, spread over 2 lakh square feet. There would be a five-screen cinema with a seating capacity of 1400, multi-cuisine food courts, children entertainment centre etc.
In addition to the LuLu Mall, three more malls were being proposed by the Group. This includes a Destination Shopping Mall with Rs.2,000 crore in Hyderabad and mini malls on the city outskirts and other major cities and towns in the State. Land would be identified for these malls in a couple of months and from there, it would take 18 to 24 months for the launch, he said.
“I am impressed with Industries Minister KT Rama Rao’s commitment towards getting investments into Telangana. I have personally seen him holding meetings with investors from 7.30 am to 12.30 pm at Davos,” Yusuff Ali said.
Regarding national plans, the LuLu Group CMD said the group would be investing Rs 10,000 crore in India in different projects under progress over the next three years. The group has already invested over Rs 20,000 crore in the country, he said, adding the aim was to provide employment to 50,000 people in India.
The Industries Minister said it was a matter of pride to witness an Indian MNC and LuLu Group Chairman Yusuff Ali going places and making waves.
The Minister recalled that at a meeting last time, Chief Minister K Chandrashekhar Rao was highly impressed with Yusuff Ali’s humility. “The Chief Minister instructed us not to get enamored with foreign companies but to support and promote Indian company LuLu Group,” Rama Rao said.
Briefing about Telangana’s achievements in the last nine years, the Minister said the State’s per capita income in 2014 was Rs.1.12 lakh and it had now increased to Rs.3.17 lakh. Similarly, the State GSDP, which was 5.05 lakh crore in 2014 had increased to Rs.13.27 lakh crore, he said.
From being ranked 24th in paddy production, Telangana emerged as the largest paddy producer in the country. So much so, that the neighbouring Tamil Nadu and Karnataka were seeking paddy from the State. Though, there could be political differences, Telangana will not let them come in way in helping the neighbouring States, Rama Rao said.
The State government had issued orders facilitating 24×7 operations of retail outlets. This should be very helpful for LuLu Group as it can operate in three shifts. Telangana was geographically in the centre and it would be convenient to transport to both central and Southern States and there was vast scope for logistics hubs and LuLu Group should explore the opportunities, the Minister said.
The Minister said Telangana was ranked top in terms of inland fisheries production. The largest aqua hub spread over 370 acres was coming up in Rajanna Sircilla. Further, a mega dairy plant was being set up by the State government at Raviryala with Rs 300 crore and would be ready for inauguration in August, he said.
