KTR opens Lulu mall in Hyderabad, first in chain in Telangana

HYDERABAD: Minister for IT and Industries KT Rama Rao (KTR) has called upon the Lulu Group to consider investing in Telangana as a stepping stone for success in India and the rest of the world. KTR inaugurated Telangana's first-ever Lulu Mall by UAE-based retailer Lulu Group at Kukatpally, Hyderabad on Wednesday.

After inaugurating the mall, KTR, along with Yusuff Ali MA, chairman and managing director of Lulu Group, and others went round the mall and inspected the facilities. KTR said that the Lulu Group had its presence in over 25 countries with 270 hypermarkets providing employment to several youth. After inaugurating a mall in Kerala and beginning their investment in India, the Lulu Group asked for Ease of Doing Business to invest in Telangana following a call by Chief Minister K Chandrashekar Rao (KCR), he said.

The IT and Industries Minister said that the Lulu Group would invest Rs 3,500 crore in super marts, malls, food processing and other allied sectors in Telangana, including aqua and fishing processing sectors. The investment would provide better job opportunities for the youth, farmers, fish and poultry producers in the State, he said.

“I am very thankful to Yusuff Ali for his generosity and kindness for promising to invest Rs 3,500 crore in Telangana, of which this is just the first step. I am hopeful Yusuff Ali will keep his word and invest more than he promised. We will ensure and show more opportunities for the Lulu team in India so that they have the best experience in India,” KTR said.

Yusuff Ali said, “I am very happy to announce the inauguration of Telangana’s first-ever Lulu mall in Hyderabad. Our second project will be an export oriented and state-of-the-art food processing unit including meat processing in Hyderabad. To support the local fishing industry, we are also planning a sea food procurement and processing centre in Siricilla.”

The Lulu Group chairman and managing director also said that apart from inaugurating Lulu Mall in Hyderabad, the Lulu Group also committed to investing Rs 3,500 crore in the next three years in a destination shopping mall, mini malls and agricultural sourcing and logistic hub for facilitating 100 per cent exports and promotion of Telangana products across India and overseas.

He also thanked KTR for his help and support for investments in Telangana. “For the first time, I met KTR at the World Economic Forum in Davos. I was really impressed with his hard work and dedication to attracting investors to Telangana. We are here in Telangana after going through the leadership and commitment of the Chief Minister and KTR,” Yusuff Ali said.