HYDERABAD: The LuLu Group plans to invest Rs 500 crore in setting up a food processing facility focused on exports markets in Telangana, the Telangana government said on Monday.
Telangana industries minister KT Rama Rao handed over the necessary permission documents for the proposed facility to LuLu Group chairman & managing director Yusuff Ali MA at the World Economic Forum that kicked off at Davos on Monday.
During his meeting with KTR, the LuLu Group top boss said that apart from this investment, for which the foundation stone would be laid soon, the group also plans to set up another unit in the food processing sector and an official announcement would be made soon in this regard.
The proposed unit would export processed food products from Telangana to overseas markets like Europe, he told KTR.
Yusuff Ali also told the minister that his LuLu group is lining up investments in the construction of large-scale commercial complexes in the state of Telangana.
“We have already selected several areas in Hyderabad city in this regard and are in talks with the respective property owners. Our aim is to build an excellent shopping mall of international standards in Hyderabad city,” he added.
