UAE-based retail major Lulu Group to invest INR 3,500 crore in Tamil Nadu

UAE-based retail major Lulu group on Monday announced an investment of INR 3,500 crore in Tamil Nadu to set up shopping malls, hypermarkets and a food-logistic park. A memorandum of understanding (MoU) to this effect was signed on Monday by Pooja Kulkarni, Managing Director and CEO of Tamil Nadu Industrial Guidance & Export Promotion Bureau and Ashraf Ali MA, Executive Director of Lulu Group, the company said in a statement.