Lulu Group International, a United Arab Emirates-based conglomerate that has shown interest to invest in Andhra Pradesh has now announced its investment schedule in the presence of Telangana IT and Industries Minister KT Rama Rao. Lulu Group Chairman Yousuf Ali announced that the company is going to invest Rs. 3,500 Crores in the state while Rs. 300 Cr investment worth shopping mall by the Lulu Group will be opened in August or September.
This is going to be a huge plus for the already blossoming state. However, it comes as a “prick in the heart” for Andhra Pradesh. In the year 2019, Lulu Group stated that they are not going to invest anymore in Andhra Pradesh as the government has put on hold several key projects undertaken by its predecessor.
The announcement came after the YS Jagan government canceled an allotment of land made to the Lulu Group during the Telugu Desam Party tenure. Now, the Telangana government has cashed in the opportunity and attracted the Lulu Group towards them.
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