LuLu Group Keen On Investing In AP After Meeting Naidu

Amaravati: With Abu Dhabi-based LuLu Group withdrawing its announcement not to invest in any project in Andhra Pradesh in 2019 after the decision of erstwhile YSRCP Government to scrap the MoU for establishing an international convention centre, multiplex and a five star luxury hotel in Visakhapatnam, now there is intense curiosity where the project will come up.

The nearly 13 acres plot belonging to APIIC at the Harbour Park with the beachfront view, which was allotted by the TDP Government in 2018 for an investment of Rs2,200 crore is still vacant, there is also talk that due to steep rise in real estate prices, an alternate site may be offered. The cost of the project after nearly six years has also escalated. After its announcement to not invest in any project “under the present dispensation,” the group invested in Telangana and other States in India.

After a meeting with the top officials of the group, Chief Minister N Chandrababu Naidu wrote on X on Saturday “I’m pleased to welcome the Chairman & MD of Lulu Group International, Mr @Yusuffali_MA, and the Executive Director, Mr 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. The GoAP shall extend every possible cooperation and support. I wish my friend all the best in his endeavours and look forward to a fruitful partnership.” Photos uploaded in social media sites under the caption “LuLu Group is back in AP” went viral instantly.

Sudheer, an X user, tweeted “13.5 acres land allotted in 2018 for LuIu Shopping Mall, 5 Star Hotel, Multiplex at Harbour Park Road/ RK Beach Road in #Visakhapatnam is still vacant, so they can construct there or else ideal place is Law college road, Madhurawada.”