A Memorandum of Understanding (MoU) was signed by the state of Uttar Pradesh and the world’s largest retailer and hypermarket chain, Lulu Group, to build six malls and a hotel in the state.
Rakesh Sachan, the minister for MSME in Uttar Pradesh, signed a contract in Dubai for the construction of hotels and shopping centers with the Lulu Group.
According to the memorandum of understanding, Lulu will invest a total of Rs4,500 crore to build shopping malls and hypermarkets in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj.
A five-star hotel will be part of the Sector 108, Noida, shopping mall project.
After it is finished, Lulu’s new investment in Uttar Pradesh is anticipated to provide jobs for more than 20,000 people.
During the UP Investment Roadshow, the MoU was signed by Ashraf Ali M.A., Executive Director of Lulu Group, and Rakesh Sanchan in the presence of Narendra Bhushan, Principal Secretary, PWD.
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