The Abu Dhabi-based Lulu Group is set to make significant investments in Andhra Pradesh, focusing on the cities of Visakhapatnam, Vijayawada, and Tirupati. The company plans to construct an international standard shopping mall featuring an eight-screen IMAX multiplex in Visakhapatnam, along with state-of-the-art hypermarkets in Vijayawada and Tirupati. Additionally, modern food processing and logistics centres are part of the investment plan.
Productive Discussions with State Leadership
Following a productive meeting with Andhra Pradesh Chief Minister N. Chandrababu Naidu, Lulu Group Chairman M.A. Yusuff Ali shared the news on social media platform X on September 29, 2024. He emphasised the positive nature of the discussions held with Mr. Naidu and highlighted their 18-year-long brotherly relationship.
A History of Challenges
It’s worth noting that the Lulu Group had previously expressed intentions to establish an international convention centre and other facilities in Visakhapatnam during the TDP regime from 2014 to 2019. However, the plans fell through due to the cancellation of land allotments by the YSR Congress Party (YSRCP) government, leading the conglomerate to withdraw from investing in the state.
Renewed Commitment to Investment
With the current TDP-led NDA government actively pursuing investment opportunities, the Lulu Group is making a comeback in Andhra Pradesh. Chairman M.A. Yusuff Ali met with Chief Minister Naidu on September 28 to offer renewed investment commitments, signalling a new chapter for the company in the state. This move reflects the Lulu Group’s intent to contribute significantly to the local economy and enhance infrastructure in Andhra Pradesh.
