LuLu Group to infuse Rs 3,500 cr to provide over 15,000 jobs in TN

30 Mar 2022 CW Team

On Monday, the UAE-based LuLu Group, a $7.4 billion retail conglomerate, inked a memorandum of understanding (MoU) with the Tamil Nadu government to infuse Rs 3,500 crore in the state to create over 15,000 direct and indirect job opportunities to youth in the coming three years.

The chief minister-led delegation inked several MoUs with investors to draw Rs 6,100 crore investment during the five-day visit to the UAE. The MoU was inked in the presence of chief minister M K Stalin and the chairman of LuLu Group MA Yusuff Ali in Abu Dhabi. The first shopping mall will be set up in Chennai by 2024, while the first hypermarket is likely to launch by this year-end in Coimbatore, at the Laxmi Mills compound. LuLu Group will additionally install a food processing and logistics centre for exports to the Middle East. A high-level delegation from the firm will shortly visit the state to finalise locations and complete other investment formalities.

Tamil Nadu led by dynamic chief minister M K Stalin renders excellent infrastructure and help to the investors, and they are very happy to explore bigger investment opportunities not just in Chennai but also in tier two cities like Coimbatore, Salem, Madurai and Trichy, as per Yusuff Ali.

In India, the group has three shopping malls in Thiruvananthapuram, Bengaluru and Kochi. Its fourth mall is likely to be opened in Lucknow by the May end of 2022. Earlier, Stalin met Abdullah Mohamed Al Mazrouei, the elected chairman of the Federation of UAE Chambers of Commerce and Industry and invited UAE firms to install food processing units, food parks and cold chains and logistics facilities in Tamil Nadu to export food products to UAE, the Middle East and North African nations.

Also read: Lulu Group to spend Rs 2,000 cr to form shopping mall near Ahmedabad

Infrastructure Energy

22 May 2025

Reliance Power Signs Term Sheet For 500 MW Solar Project in Bhutan

Mumbai-based Reliance Power Limited has signed a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital Private Limited (GDL), owned by Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. The agreement marks a significant milestone in regional clean energy collaboration across South Asia.Reliance Power and DHI will jointly develop Bhutan鈥檚 largest solar power project through a 50:50 joint venture, with an installed capacity of 500 megawatts (MW). The project involves a capital outlay of up to Rs 20,000 million und..

Real Estate

22 May 2025

Praveg Launches Eco-Luxury Resort Kachigam in Daman

Praveg Limited has launched Praveg Resort Kachigam, an eco-luxury island retreat across four islands in Kachigam, Daman. The resort spans 89,500 square metres and features 50 sustainable luxury cottages surrounded by a serene lake and lush greenery.Designed for leisure travellers, destination weddings, and corporate events, the resort offers numerous amenities including a children鈥檚 play area, gym, swimming pool, restaurant with lakeside views, spa and wellness centre, and vibrant party zones such as Club Martini鈥檢 and a dance floor.A key highlight is its wedding and event infrastructure f..

Infrastructure Transport

22 May 2025

Shyam Metalics to Start Wagon Manufacturing at Kharagpur Plant

Shyam Metalics and Energy Limited, a leading Indian metal company, announced its entry into wagon manufacturing with a new greenfield facility at Kharagpur, West Bengal. The facility, developed by its subsidiary Ramsarup Industries Limited, is scheduled to commence operations by March 2026.The plant will be built in two phases, initially producing 2,400 wagons per year and eventually doubling to 4,800. It will manufacture various types of rolling stock, including flat, open, box, hopper covered, tank, and specialised wagons.Designed with sustainability in mind, the facility will feature roofto..