Lulu Group will open an international-standard shopping mall with 8-screen imax multiplex in Vizag, state-of-the-art Hypermarkets in Vijayawada and Tirupati along with modern food processing and logistic centers in Andhra Pradesh
New Delhi: UAE-based Lulu Group International will set up modern food processing and logistic centres in Andhra Pradesh along with hypermarkets and a shopping mall in the state, its chairman Yusuffali MA said on Sunday.
In 2019, the company had said it would never invest in the state after the YS Jagan Mohan Reddy-led dispensation allegedly revoked land allotments.
Under the TDP government between 2014 and 2019, Lulu Group had inked a pact to build an international convention centre, shopping mall and a luxury hotel in the port city of Visakhapatnam at an investment of Rs 2,200 crore but had to abandon those plans with the change in government.
However, the heartening volte-face comes in the wake of a meeting between Chief Minister N Chandrababu Naidu and Yusuffali on Saturday in Amaravati.
In a post on social media platform X in response to Naidu’s post after their meeting, Yusuffali said, “Our discussions were very fruitful.”
“We have decided to start an international-standard shopping mall with 8-screen imax multiplex in Vizag, state-of-the-art Hypermarkets in Vijayawada and Tirupati along with modern Food Processing and Logistic Centers in Andhra Pradesh,” Yusuffali wrote.
He tagged Naidu, with whom he said he has “got 18 long years of brotherly relationship”.
Earlier in a post on X, Naidu updated about his meeting with Yusuffali along with the group’s executive director Ashraf Ali MA, back to Andhra Pradesh.
“I had a very productive meeting with their delegation in Amaravati today.
“We discussed plans for a Mall and multiplex in Vizag, Hypermarket and multiplexes in Vijayawada and Tirupati, along with investments in the food processing sector across the state,” Naidu wrote.
Assuring the state government’s “every possible cooperation and support”, he said, “I wish my friend all the best in his endeavours and look forward to a fruitful partnership for the development of Andhra Pradesh.”
With an annual turnover of $8 billion, the Abu Dhabi-headquartered group has presence in a variety of business ranging from hypermarket operations to shopping mall development, manufacturing and trading of goods, hospitality assets, and real estate.
It currently operates in 25 countries around the world.
