LuLu Group acquires Telangana water products worth ₹1,000 crore

LuLu Group, a well-known UAE-based company, has announced that it will acquire Telangana water products worth ₹ 1,000 crore. Yusuffal MA Chairman and  LuLu Group CEO made the announcement after  discussions with a Telangana government delegation led by  IT and Industries Minister KT Rama Rao during a visit to the UAE.  “The company has submitted an investment in a proposed water cluster in Sircilla district and has expressed interest in acquiring water products  from the area worth ₹ 1,000 crore annually”, KT Rama Rao said in a statement on Wednesday.  “The new investment is expected to create 500 new jobs in the state”, he said on Twitter. 

 Malabar Group Investments 

 Meanwhile, the Malabar Group has announced  another investment of ₹ 125 billion in the state, which could create 1,000 jobs. The top management  of the group met  the Telangana delegation in Dubai. The group, which has already invested in the Telangana gold refining sector, has proposed to invest in other sectors as well. M-FIT, a Malabar-based furniture manufacturing company, is setting up a Greenfield unit in Hyderabad with a total investment of ₹ 125 crore. Malabar Gold is the anchor investor in the  furniture park set up by the state government at Dandumalkapur, which produces high-quality bespoke furniture. “The group will set up a skill development center in Hyderabad to train jewelry artisans”.

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