Team from the group is expected to visit the state in January to finalise the land for the project.
Yusufff Ali Ma, chairman, Lulu group
Kochi: In an attempt to further expand its footprint in India, the UAE-based retail chain Lulu Group International has decided to build a convention centre, shopping mall and a five star hotel in Lucknow, with an investment of Rs 1,000 crore.
Making the announcement at the maiden UP Pravasi Diwas in the state capital, Lulu group chairman Yusuff Ali MA said the investment will create employment for 3,000 people. “If everything is ready, we promise to begin our construction soon,” a release here has quoted him as saying.
Welcoming the Keralite businessman’s investment plans in the state, UP Chief Minister Akhilesh Yadav said the government will make every effort to ensure that land and other assistance will be provided to the group so that it can begin work at the earliest.
A team from the group is expected to visit the state in January to finalise the land for the project. The Lulu Group, which is a major player in the Gulf region and Kerala, is keen on expanding its footprint in India.
Last year, the group chairman had met Telangana Chief Minister K. Chandrashekar Rao and announced his plans to invest Rs 2,500 crore in the newly formed state.
The group was interested in setting up a fruit and vegetable processing unit, an integrated meat processing unit and a shopping mall near Hyderabad.
The retailer, which recently announced an investment plan of $300 million in Egypt, has a networth of $3.4 billion and Mr Yusuff Ali was ranked 24th on Forbes’ list of India’s richest 100 in 2015.
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( Source : deccan chronicle )
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