Latest news with #YousuffAli
Time of India
4 days ago
- Business
- Time of India
LuLu Group allotted land in Vizag, Vijayawada
Vijayawada: The state govt has allotted land to LuLu Group in Vijayawada and for setting up of mega shopping malls. The land was allotted through Andhra Pradesh Industrial Infrastructure Corporation (APIIC) on lease basis for a period of 99 years. Tired of too many ads? go ad free now The govt also allocated 532 acres to Laurus Labs for a pharma park. Laurus Labs informed the bourses that it has been allotted land at Rambilli Phase-II in Anakapalli district for the setting up of Laurus Pharma Zone that will house manufacturing units for pharma products. The company plans to invest Rs 5,630 crore in the project that is slated to provide employment to 6,350 people in three phases over an eight-year period. LuLu Group earlier expressed interest in setting up a mall in Visakhapatnam and the land was allotted to it by the previous TDP govt. However, the land allotment was cancelled by the subsequent YSRCP govt. LuLu has been given the same land where the original proposal was made to construct the mall. The 13.74 acres allotted to LuLu along the beach road will see the construction of a mega shopping mall in a 13.5 lakh sq ft built-up space. The project has been recognised as a special project with three-year lease exemption and land allotment will be done as per the state's tourism policy. The govt has directed the revenue dept and APIIC to resolve all court cases. In Vijayawada, 4.15 acres of land available with Andhra Pradesh State Road Transport Corporation (APSRTC) at old bus station has been allocated to LuLu Group for the construction of an integrated shopping mall with 2.23 lakh sq ft built-up space. Tired of too many ads? go ad free now The govt has directed the NTR district collector to look for alternative lands to relocate APSRTC installations and to compensate the corporation with the land that it is losing. Left parties and worker unions are opposing this move as it was in prime location. LuLu Group chairman MA Yousuff Ali said the mega shopping mall will generate over 7,000 jobs and contribute significantly to the economic development of North Andhra region. Meanwhile, retired IAS officer EAS Sharma has written a letter to chief secretary K Vijayanand, stating that allotting valuable land at low price to a private company is against the law and Supreme Court orders. He also claimed the land allotted to LuLu Group comes under CRZ limits. "The govt should not allot lands to private companies at its will. It should take 10% above the market rate if the land is to be allotted for the benefit of the public. The allotment should be investigated by the CBI," Sarma demanded.
The Hindu
23-07-2025
- Business
- The Hindu
Construction of LuLu mega shopping mall in Visakhapatnam will begin soon, says its CMD Yousuff Ali
LuLu International CMD M.A. Yousuff Ali said at the Investopia-CII meet organised here on Wednesday that the UAE-based multinational business conglomerate would soon begin the construction of a mega shopping mall in Visakhapatnam that would provide employment to 5,000 to 8,000 persons. The LuLu mall in Cochin, which was India's biggest, employed 8,230 persons. The company would soon start a food processing plant and a hypermarket in Vijayawada. Similar hypermarkets were planned in other cities in Andhra Pradesh, Mr. Ali said, observing that these projects would bring in the much-needed foreign exchange and generate employment. Mr. Ali said Andhra Pradesh was achieving commendable progress with each passing day, and that the LuLu Group was happy to be again associated with the State government, while recalling that the construction of the shopping mall in Visakhapatnam did not fructify earlier for reasons beyond his control. As far as the proposed food processing plant in Vijayawada was concerned, Mr. Ali said the area had abundant raw materials, and the facility would help the company in ensuring uninterrupted supply of that material to its 38 food processing plants located around the world. Currently, LuLu was exporting a huge quantity of vegetables and fruits from Andhra Pradesh.
