The Uttar Pradesh government on Tuesday signed a memorandum of understanding (MoU) with the Lulu Group in Dubai to set up six shopping malls and one hotel in the state. As per the MoU, Lulu will set up shopping malls in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj with a total investment of Rs 4,500 crore.
The shopping mall project in Noida Sector 108 will also have a five-star hotel. The new investment by Lulu is expected to provide employment to more than 20,000 people after its completion.
The MoU was signed in the presence of Narendra Bhushan, Principal Secretary PWD, and Ashraf Ali M.A., Executive Director of Lulu Group, in the presence of Rakesh Sanchan during the UP Investment Roadshow. Sachan along with a team of officials are meeting investors in Dubai to attract and invite them for the Global Investment Summit to be held on February 10-12. The government has also announced 100 new townships to attract investors.
Apart from Lulu Group, Alana Group, VPS Health Care and many other big names have shown interest in investing in the state. Narendra Bhushan, Principal Secretary of PWD, said Uttar Pradesh is the only state which has 38 per cent of the country’s total expressways.