From Our Correspondent
Visakhapatnam: Global retail major Lulu Group International signed a major agreement with the Andhra Pradesh government on Friday to take forward multiple projects in the state, including a world-class mall in Visakhapatnam and a logistics, procurement and export centre in Rayalaseema.
The MoU was exchanged in the presence of Chief Minister N. Chandrababu Naidu and Lulu Group Chairman & MD Yusuff Ali during the 30th CII Partnership Summit in Visakhapatnam.
Speaking after the signing, Chief Minister Naidu said the state had successfully brought back the Lulu project that was stalled by the previous administration. He added that the entry of global giants like Google and ArcelorMittal into Visakhapatnam would further strengthen the ecosystem for investments such as Lulu’s. He directed that the integrated mall must be completed within three years.
Naidu stressed that the Lulu Mall would not just be a shopping destination but a major boost to Visakhapatnam’s tourism sector. He also urged the company to source agricultural produce directly from farmers across the state, noting Lulu’s network of over 300 malls worldwide.
Rayalaseema Export Hub Announced
Lulu Group announced that it would begin exports from Andhra Pradesh starting January, sourcing mango and guava pulp as well as spices for its global supply chain.
Chairman Yusuff Ali also revealed that the company will soon establish a logistics procurement and export centre in Rayalaseema, a move expected to significantly expand market access for local producers.
₹1,066-Crore Integrated Mall to Transform Visakhapatnam
Lulu’s upcoming mall in Visakhapatnam will be developed on 13.83 acres, with a built-up area of 13.5 lakh square feet and an investment of ₹1,066 crore. The project is expected to generate 5,000 jobs.
The company said this mall will be its 9th in India and the first in Andhra Pradesh.