Home | Andhra Pradesh | Lulu Group Makes A U Turn Eager To Invest In Ap Under New Govt Lulu Group makes a U-turn, eager to invest in AP under new govt In 2019, the company said it would never invest in the State after the YS Jaganmohan Reddy-led dispensation allegedly revoked land allotments By PTI Published Date - 29 September 2024, 08:49 AM Andhra Pradesh Chief Minister N Chandrababu Naidu and Lulu Group chairman and managing director MA Yusuff Ali in Amaravati. Amaravati: Abu Dhabi-based Lulu group international, a diversified conglomerate, which vowed to never return to Andhra Pradesh after exiting the State during the previous YSRCP regime, has made a turnaround and is eager to invest here. In 2019, the company had said it would never invest in the State after the YS Jaganmohan Reddy -led dispensation allegedly revoked land allotments.
Also Read Andhra CM Naidu asks officials to devise plans to provide 20 lakh jobs Under the TDP government between 2014 and 2019, Lulu Group had inked a pact to build an international convention centre, shopping mall and a luxury hotel in the port city of Visakhapatnam at an investment of Rs 2,200 crore but had to abandon those plans with the change in government. However, the heartening volte-face comes in the wake of a meeting between Chief Minister N Chandrababu Naidu and Lulu Group chairman and managing director MA Yusuff Ali in Amaravati. “I’m pleased to welcome the chairman & MD of Lulu Group International, MA Yusuff Ali back to A.