LuLu group offers Rs.1,000 crore investment in Lucknow

Agra: Gulf-based company LuLu Group International on Monday pledged to invest Rs.1,000 crore to set up an international convention centre, a five-star hotel and a mall in Uttar Pradesh capital Lucknow, if the state government helped in fast-tracking the required clearances.

Making this announcement, Lulu Group managing director M.A. Yousuf Ali told Chief Minister Akhilesh Yadav at a gathering of the Indian diaspora at the first UP Pravasi Diwas in Agra that he was impressed by the work being done in the state and was ready to invest.

He urged Yadav to inaugurate two sporting facility complexes constructed at Aligarh Muslim University (AMU) with a donation of Rs.5 crore each given by him.

LuLu has over 35,600 employees of various nationalities and is one of the largest retail chains in Asia and is the biggest in the Middle East with 118 outlets in the Gulf Cooperation Council (GCC) countries and one in Kochi in Kerala.

Research firm Deloitte recently placed it among the world's 50 fastest growing retailers.

Responding to the offer, Yadav said the state government would extend all possible help in the shortest time to ensure that LuLu Group sets up base in the state.

"I assure you that very soon the state government would do its bit in facilitating the investment proposal," Yadav said.