Lulu mall in Hyd, Rs 3.5k cr earmarked

HYDERABAD: UAE-based retailer Lulu Group entered Telangana with the opening of its first mall in Hyderabad.

The group also reiterated its commitment to invest Rs.3,500 crore in the state over the next three years.

Telangana’s Minister for Industry KT Rama Rao inaugurated the mall spread over 500,000 square feet. Lulu group Chairman Yusuff Ali said they were committed to invest Rs 3,500 crore over the next three years in Telangana. The investment will be in a destination shopping mall, mini malls and agriculture sourcing, logistics and processing hub for facilitating 100 per cent exports.

He said the second project would be export-oriented food processing centre including meat processing in Hyderabad.

“To support the local fishermen community we are planning seafood procurement and processing centre in the constituency of the minister (Sircilla),” he said.

KT Rama Rao said the mall was a first step as the Lulu Group had promised an investment of Rs 3,500 crore in supermarkets, malls, food processing and allied sectors like aqua and fish processing.