The state of Uttar Pradesh and Lulu Group, the world’s largest retailer and hypermarket chain, have signed a Memorandum of Understanding (MoU) to construct six malls and a hotel in the state.
Rakesh Sachan, the minister of Uttar Pradesh’s MSME (Ministry of Micro, Small & Medium Enterprises), and the Lulu Group in Dubai has signed a contract to build a commercial project comprising shopping malls and hotels in the state.
According to the MoU, Lulu will invest a total of INR 4,500 crore to build shopping malls and hypermarkets in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj.
The shopping mall project in Sector 108, Noida will also have a five-star hotel. Lulu’s new investment in Uttar Pradesh is expected to create more than 20,000 employment once it is completed.
The Lulu Group is rapidly growing its India operations in the retail and food processing sectors with the opening of Lucknow Lulu Mall, one of the biggest shopping malls in North India.
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