9 months ago
Lulu Group to Develop Mall in Vizag, Logistics Hub in Seema
A big company called Lulu Group is going to build a huge shopping mall in Visakhapatnam, a city in India.
They will also build a place to help ship things out from another part of the state called Rayalaseema.
The Chief Minister said that a previous government had stopped this project, but now it's back on track.
The mall will be very fancy and should be ready in three years.
It's expected to bring lots of visitors and jobs.
Lulu Group also plans to buy fruits like mangoes and guavas, and spices from local farmers in Andhra Pradesh to send to their stores all over the world.
This deal is part of a big meeting where many companies come to discuss investing in the state.
Lulu Group International will develop a world-class integrated mall in Visakhapatnam and a logistics hub in Rayalaseema.
The agreement was signed during the 30th CII Partnership Summit in the presence of Chief Minister N Chandrababu Naidu and Lulu Group chairman Yusuff Ali.
The Visakhapatnam mall, with an investment of Rs 1,066 crore, is expected to create 5,000 jobs and boost tourism.
Lulu Group will procure agricultural produce, including mango and guava pulp and spices, from Andhra Pradesh for its global operations.
The logistics hub in Rayalaseema will support large-scale exports, with shipments of processed goods beginning next January.
- Who
- Lulu Group International and the Government of Andhra Pradesh
- What
- Signed an MoU for developing an integrated mall in Visakhapatnam and a logistics procurement and export centre in Rayalaseema.
- Where
- Visakhapatnam, Andhra Pradesh
- When
- Friday, during the 30th CII Partnership Summit
- Why
- To boost tourism, create employment, strengthen the investment climate, source agricultural produce, and support large-scale exports.
Previous Regime
Current Government
Project Status
Previous Regime
The project was halted.
Current Government
The project has been successfully brought back to the state.
Key facts
- Developer
- Lulu Group International
- Projects
- Integrated mall in Visakhapatnam, Logistics procurement and export centre in Rayalaseema
- Mall Investment
- Rs 1,066 crore
- Mall Area
- 13.83 acres with 13.5 lakh sq ft built-up area
- Mall Employment
- Approx. 5,000 people
- Export Procurement
- Mango and guava pulp, spices
- Export Start Date
- January next year
Timeline
CM Naidu urged investors to embrace tech for state growth.
Andhra approved ₹28,546 crore in business deals.
Adani pledged $15 billion for state projects.
Green energy and AI centers will draw huge investments.
Quotes
Chief Minister N. Chandrababu Naidu
Chief Minister of Andhra Pradesh
“the state is keen to collaborate with Singapore companies known for their innovative industrial ideas, adding that such partnerships would help accelerate the state’s transition into a knowledge-driven economy.”
thehansindia.com
“India too was moving towards political stability similar to Singapore, citing the NDA’s strong mandate and the coalition’s recent electoral success in Bihar.”
thehansindia.com
Nara Lokesh
Minister for IT of Andhra Pradesh
“the state, under Naidu’s leadership, would work to match Singapore’s pace of development.”
thehansindia.com
“an extraordinary journey”
thehansindia.com
Gan Siow Huang
Singapore's Minister of State for Foreign Affairs and Trade and Industry
“the partnership between AP and Singapore would continue to strengthen and expressed hopes that the state would evolve into a healthy, wealthy, and happy society.”
thehansindia.com
“the new agreements covered sustainable development, digital transformation and urban governance.”
thehansindia.com
Piyush Goyal
Union commerce and industry minister
“reading the future accurately”
thehansindia.com
“The country’s first Drone City and Space City belong in Andhra Pradesh.”
thehansindia.com
Yusuff Ali
Chairman and MD of Lulu Group
“a logistics procurement and export hub would soon be established in the Rayalaseema region to support large-scale exports.”
thehansindia.com
Sources
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AP growth engine for country: Lokesh
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AP clinches `11.9 lakh cr investments at summit
AP stages Davos-like summit to court global capital
Naidu, Goyal lay stone for India’s first Drone City and Space City
Lulu to set up world-class mall in Vizag, logistics hub in Seema
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