Lulu Group's U-Turn: Renewed Investment Plans in Andhra Pradesh

Lulu Group International, based in Abu Dhabi, has reversed its decision to avoid investing in Andhra Pradesh after previously exiting due to a land allocation dispute. The conglomerate now plans to invest in various projects, following a productive meeting with Chief Minister N Chandrababu Naidu.

Lulu Group International, headquartered in Abu Dhabi, has decided to reinvest in Andhra Pradesh after previously halting operations in the state due to land allocation issues under the previous YSRCP government.

In 2019, Lulu Group ceased its investment plans due to the alleged revocation of land allotments by the YS Jagan Mohan Reddy-led administration. The company had initially planned to invest Rs 2,200 crore in Visakhapatnam on projects including an international convention center, a shopping mall, and a luxury hotel.

The turnaround came following a meeting between Chief Minister N Chandrababu Naidu and Lulu Group Chairman and Managing Director MA Yusuff Ali. The discussions focused on new investments in Vizag, Vijayawada, and Tirupati. The Government of Andhra Pradesh has pledged full support and cooperation for these endeavors.

(With inputs from agencies.)