Lulu Group signs MoU to open a Shopping Mall in Varanasi

Dubai/Varanasi: The Lulu Group and the Uttar Pradesh government have signed a Memorandum of Understanding (MoU) in order to build six malls and one hotel in the state.

Following the MoU, Lulu will invest a total of ₹ 4,500 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.

Rakesh Sachan, the minister for MSME in Uttar Pradesh government signed an agreement in Dubai for the construction of hotels and shopping centres with the Lulu Group. For the purpose of attracting and inviting investors to the Global Investment Summit, which will take place from February 10–12, Sachan is meeting with investors in Dubai with a team of officials.

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.

Once finished, more than 20,000 people should find employment as a result of Lulu's new investment in the state.