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Business EconomyPosted at: Feb 24 2018 7:17PM


Lulu Group to Build Rs 2000 Crore Convention Centre, 5 Star Hotel, Mall in Port city

Visakhapatnam, Feb 24 (UNI) UAE-Based Lulu Group will construct an international convention centre, hotel and shopping mall in this coastal Port city of with an investment of Rs 2,000 crores. The foundation stone for the project was laid by Vice President M Venkaiah Naidu during the inaugural session of CII Partnership Summit on Saturday
The integrated project coming up at RK Beach is expected to create employment for 10,000 people.
Andhra Pradesh Chief Minister N Chandrababu Naidu, Union Commerce and Industry Minister Suresh Prabhu, Union Civial Aviation Minister Ashok Gajapathi Raju and Lulu Group chairman M A Yusuff Ali were present.
Yusuff Ali said the project will be completed in three years. He said the project will provide 5,000 direct jobs and many indirect jobs.
While he did not reveal the investment figure in his speech, according to a statement from the Chief Minister’s office, the project will come up at a cost of Rs 2,000 crore. The statement also said the project will provide employment to 10,000 people.
Calling on Lulu Group to ensure that the Vizag project is better than their mall in Kochi, he said he visited the Lulu mall in Kochi recently and pointed out that it has daily footfall of 80,000.
Yusuff Ali said the facility would bring international conventions and tourists to the North Coastal Andhra Pradedsh and Visakhapatnam Port and Steel City.
AP CM Chandrababu Naidu said this would be prestigious project for the coastal city. He urged Lulu Group to complete the project in 30 months.
He hoped that the convention center would be ready next year to host next Partnership Summit.
UNI BSR AKC1917
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Tags: #Lulu Group to Build Rs 2000 Crore Convention Centre# 5 Star Hotel# Mall in Port city
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