Rewind 2023: Lulu Group commits Rs 3,500 cr investment in TS
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Abu Dhabi-based $8 billion turnover Lulu Group in June 2023 announced an investment of over Rs 3,500 crore over the next five years for setting up of malls and food processing facilities in Telangana.
The investment also includes Rs 2,500 crore towards setting up a destination mall on the outskirts of Hyderabad. First of its investment in the State, part of the Rs 500 crore MoU inked by the Group with the Telangana government last year, was for rolling out the Lulu mall and hypermarket (launched this year) at a cost of Rs 300 crore.
The Group will also be investing an additional Rs 200 crore in setting up an export-oriented integrated meat processing plant at Chengicherla with a production capacity of 60 metric tonnes per day. The retailer will also be investing in setting up an agri products sourcing and logistics hub near Hyderabad Airport.
