Lulu Group to make major investments in Vizag, Vijayawada and Tirupati

The Abu Dhabi-based company has decided to construct an international standard shopping mall with eight-screen Imax multiplex in Visakhapatnam, state-of-the-art hypermarkets in Vijayawada and Tirupati, and modern food processing and logistic centres

A day after meeting Andhra Pradesh Chief Minister N. Chandrababu Naidu, Lulu Group Chairman M.A. Yusuff Ali said in a message on the social media platform, X, on September 29, 2024 (Sunday) that the company decided to start an international standard shopping mall with eight-screen Imax multiplex in Visakhapatnam, state-of-the-art hypermarkets in Vijayawada and Tirupati, along with modern food processing and logistic centres.

Mr. Yusuff Ali stated that the discussions held by him and the company’s executive director Ashraf Ali with Mr. Naidu were fruitful, and that he had 18 long years of brotherly relationship with the Chief Minister.

It may be recalled that the Abu Dhabi-based Lulu Group had come forward to set up an international convention centre and create other facilities in Visakhapatnam with huge investments during the TDP regime in 2014-19, but had to back off following the cancellation of land allotments by the YSR Congress Party (YSRCP) Government.

As a consequence, the diversified conglomerate had then vowed not to invest in Andhra Pradesh again.

Now, as the TDP-led NDA Government in the State is pursuing investment opportunities with renewed vigour, the Lulu Group Chairman met Mr. Naidu on September 28 and offered to make investments. The Lulu Group is thus staging a comeback to Andhra Pradesh.

Published - September 29, 2024 08:00 pm IST