Indore: Lulu Group shows interest in investing

Indore: Lulu Group shows interest in investing

Lulu Group operates 232 stores in 22 countries. The group also has five malls in India

Staff ReporterUpdated: Wednesday, January 11, 2023, 01:19 AM IST
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Indore (Madhya Pradesh): Chairman and MD of Lulu Group International, Yusuf Ali Mouslem Abdul Kader and director, Ananth AV, met Madhya Pradesh chief minister, Shivraj Singh Chouhan, regarding investment in food processing centre, agri procurement centre in the state and setting up of a mall here in Indore.

Lulu Group operates 232 stores in 22 countries. The group also has five malls in India. The group is also interested in investing in hotels, hypermarkets and convention centres in the state.

CM Chouhan also held a one-to-one meeting with potential investors and industrialists on the sidelines of the 17th PBD meet here on Monday.

CM met Gulf Lubes and Kuwait-based NBTC Company’s Malaysia-based Central India Fertilizers and Refinery Company CEO.

When CM said, “Make a roadmap with the state government team and tell us how soon you are going to start setting up the unit,” the company officials said the company wishes to invest Rs 6,000 crore in the fertilizer complex and Rs 15,000 to Rs 20,000 crore in the refinery complex. This will provide employment to more than 2,500 people.

CM Chouhan assured investors and industrialists of all possible cooperation and quick action from the state government. Piyush Gupta, CEO and MD of Development Bank of Singapore Limited, asked CM Chouhan to establish asset management and BPO in the state, provide financial support to infrastructure construction projects and food processing units and conduct activities in relation to carbon credits.

Jitendra Muchhal, Jugal Kalani and Amit Bhandari met CM Chouhan and expressed their desire to invest in the state. The industrial policy and investment promotion minister, Rajvardhan Singh Dattigaon, additional chief secretary, Mohammad Suleman, principal secretary, Manish Singh and MD of State Industrial Development Corporation, Manish Singh were present.

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