The Economic Times: December 16, 2014
Hyderabad: Abu Dhabi-based Lulu Group, which runs a retail chain of over 100 hypermarkets in West Asia, is keen to invest Rs 2,500 crore in Telangana, the company's top executive has said.
The $5-billion group is keen to invest in a fruit and vegetable processing unit, an integrated meat processing unit and a modern shopping mall in the state capital Hyderabad, chairman Yusuf Ali told a delegation of Telangana legislators, bureaucrats and investors in Dubai.
A team of Lulu group executives will visit Telangana in January with detailed project reports, the state government said.The team will seek government assistance to identify lands for the proposed projects and to obtain approvals.
On Sunday, the Telangana team visited Dubai's Smart City and interacted with its chief executive Adbul-Latif-Al-Mulla to explore possibilities of developing a smart city in Hyderabad as part of the proposed Information Technology Investment Region project. Dubai Smart City is currently developing a similar model at Kochi involving an investment of Rs 4,000 crore.
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