UAE based Lulu group inks MoU worth Rs 2,500 Crores with Telangana to develop food processing industry

Posted on:29 Jan 2018 15:59:06
UAE based Lulu group inks MoU worth Rs 2,500 Crores with Telangana to develop food processing industry
29 January 2018 Current Affairs: UAE based Lulu group inked three MoUs with Telangana government with an aim to develop retail and food processing industry in the state. Lulu Group- largest employer in UAE is being promoted by NRI businessman Yusuffali MA. 

Under the MoUs, Lulu will invest an amount of USD 400 million (Rs 2,500 Crores) to construct 1.8 million square feet area of the mega shopping mall, set up food processing plant and a logistics and export processing unit for fruit and vegetables.

The foundation stone will be laid within next three months by the Telangana Chief Minister K Chandrasekhar Rao, it said adding approximately 6,000 people will get employment.

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